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538 E Atlas Way Long Beach, CA 90813

$615,000 Sold Price as of 05/15/2019

5 Beds
3 Baths
1,710 Sq.Ft.

Sold

$615,000 Sold Price as of 05/15/2019 Refinance Your Mortgage

Map preview of 538 E Atlas Way, Long Beach, CA 90813

Property Overview: 538 E Atlas Way Long Beach, CA has 5 bedrooms, 3 bathrooms, 1,710 living square feet and 5,744 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The Atlas Way Apartments is a duplex located in the City of Long Beach. The single-story buildings are comprised of (1) two bedroom / one bathroom unit and (1) three bedroom / two bathroom unit, situated over a 5,744 square foot lot. Property amenities include: enclosed garages, large yards, and washer / dryer hookups. Recent property renovations include, but are not limited to: new windows, new water heater, copper plumbing, new electrical, new stucco, new interiors, and newer roof. This investment presents a stable, low expense opportunity with a 5.77% CAP Rate and 9.66% Total Return on Current Income. Located in the City of Long Beach, this property is conveniently positioned near the Pacific Coast Highway and freeways, providing tenants easy access to employment, entertainment, retail, and is just miles away from Alamitos Beach via automobile or the Metro Rail Public Transportation. The Long Beach market has enjoyed strong rental growth and growing tenant demand over the past few years.

Listed by Greg Bassirpou | BRE #01365951 | Marcus & Millichap RE Invest

Last checked: 13 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 28

Home details

Lot Sq. Ft: 5,744
HOA Dues: $0/mo
Year built: 1904
Garage: 4 Car
Property Type:: Multi Family

Status: Sold
MLS#: OC19060337
City: Long Beach
County: Los Angeles
Time on Site: 1521 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 2
Total # of Buildings: 2
# of Electric Meters: 2
# of Gas Meters: 2
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,500
Total Rent: $1,500
Pro Forma/Market Rent: $1,700

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,970
Total Rent: $1,970
Pro Forma/Market Rent: $2,100

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $41,640
Net Operating Income: $36,036
Gross Operating Income: --
Garage Rental Income: $7,800

Annual Expense Breakdown

Total Operating Expense: $11,921
Electric: $240
Gas/Fuel: $240
New Taxes: $7,994
Trash: $240
Insurance: $867
Water/Sewer: $240

Property Details for 538 E Atlas Way

Interior Features

Laundry Information

Has Laundry
Gas & Electric Dryer Hookup, Washer Hookup

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 4
# of Parking Spaces: 4

Lot Information

Lot Features: Near Public Transit

Property Information

Common Walls: No Common Walls
Total # of Units: 2
Parcel Number: 7274001036
Year Built Source: Public Records
Property is not Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: Please do not disturb tenants. Make all offers subject to inspection.

Neighborhood Information

Community Features: Curbs, Sidewalks, Storm Drains, Street Lights

View more facts & features

Local Long Beach Agent

Sale History for 538 E Atlas Way

Last sold on November 17th, 2020

November, 2020
Nov 17, 2020

Date

Sold (Public Records)

Public Records

--

Price
November, 2020
Nov 13, 2020

Date

Sold (Public Records)

Public Records

--

Price
May, 2019
May 16, 2019

Date

Sold

CRMLS: OC19060337

$615,000

Price
Apr 17, 2019

Date

Pending

CRMLS: OC19060337

$625,000

Price
Mar 18, 2019

Date

Active

CRMLS: OC19060337

$625,000

Price

Tax History for 538 E Atlas Way

Assessed Value (2020): $627,300

Year	Land Value	Improved Value	Assessed Value
2020	$408,000	$219,300	$627,300

Home Value Compared to the Market

This property vs the competition

538 E Atlas Way sold on May 15, 2019 for 23.69% lower than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $365.5 per/sqft which puts the price per square foot 41.8% lower than the current median sale per square foot for the city of Long Beach.

About 538 E Atlas Way

Detailed summary of property

538 E Atlas Way is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 5 bedrooms, 3 bathrooms, roughly 1,710 living square feet, and sits on an approximately 5,744 square foot lot. 538 E Atlas Way was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $615,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 23.69% lower than the current median priced home. Local homes that are currently for sale include 516 W 109th St, 642 W 109th Pl and 919 E 92nd St. While the average home in Long Beach, CA is selling in 62 days, 538 E Atlas Way has a days on market of 28 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 538 E Atlas Way Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 538 E Atlas Way

Public county record property details

Beds: 5
Baths: 3
Year built: 1904
Sq. Ft.: 1,643
Lot Size: 5,744
Stories: --

Type: Duplex (2 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 26
APN: 7274-001-036

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$560,000

Median List Price/Sq.Ft.

$553

Median Sold Price

$495,000

Median Sold Price/Sq.Ft.

$587

Total Inventory

Median Sale to List Price %

99.02%

Avg Days on Market

Loan Type

Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.