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    1941 Atlantic Avenue

    Long Beach, CA 90806
    • $599,999
    • STATUS: Active
    • ON SITE: 127 days
    • ID#: AR20147427
    $599,999
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,620
      SQFT
    • $229
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1953
    County:

    School Ratings & Info

    Description

    Snap up this superb investment opportunity. This single retail free-standing building is situated in the extremely convenient North Poly neighborhood of Long Beach. The current leasing tenant, El Ranchito Market has become the local community market for over 10 years. Annual rental increase 3%. With 5 years lease option. The current CAP is approx. 6.39% with no rent stabilization ordinance. Take pleasure in being conveniently positioned close to businesses, retailers, California State University Long Beach, and Long Beach Airport. Just a few miles away from City Beach, Seal Beach, Marina Pacifica, Aquarium of the Pacific, the Queen Mary, Shoreline Aquatic Park, several notable venues and popular landmarks, all within close reach. Blocks away from the Pacific Coast Highway thoroughfare, close to public transportation, offers high traffic visibility with endless potential. This corner lot building is LBPD25 zoning. It currently operates as a deli meat supermarket with no alcoholic beverages or lottery licenses. As per the PD-25 Zoning Planned Development Ordinance. It can also be used for a wide variety of businesses, including office support, personal services, professional services, retail sales, ready-to-eat food service, making this a value-added opportunity for a small business owner or to generate upside rental income. There is also the option to use it as a facility for cannabis cultivation and dispensing. This would require a conditional use permit.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-29T00:25:55.507. 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 deemed reliable but is not guaranteed accurate by the MLS or Hart Coastal Group. Licensed in the State of California, USA.

    www.hartcoastal.com/homes/108210487
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    1941 Atlantic Avenue Long Beach, CA 90806

    • Price: $599,999
    • Status: Active
    • ID#: AR20147427
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    2,620
    SQFT
    $229
    $/SQFT
    1953
    Built
    Neighborhood:
    9 - Poly High
    County:
    Los Angeles
    Area:
    9 - Poly High
    Property Description
    Snap up this superb investment opportunity. This single retail free-standing building is situated in the extremely convenient North Poly neighborhood of Long Beach. The current leasing tenant, El Ranchito Market has become the local community market for over 10 years. Annual rental increase 3%. With 5 years lease option. The current CAP is approx. 6.39% with no rent stabilization ordinance. Take pleasure in being conveniently positioned close to businesses, retailers, California State University Long Beach, and Long Beach Airport. Just a few miles away from City Beach, Seal Beach, Marina Pacifica, Aquarium of the Pacific, the Queen Mary, Shoreline Aquatic Park, several notable venues and popular landmarks, all within close reach. Blocks away from the Pacific Coast Highway thoroughfare, close to public transportation, offers high traffic visibility with endless potential. This corner lot building is LBPD25 zoning. It currently operates as a deli meat supermarket with no alcoholic beverages or lottery licenses. As per the PD-25 Zoning Planned Development Ordinance. It can also be used for a wide variety of businesses, including office support, personal services, professional services, retail sales, ready-to-eat food service, making this a value-added opportunity for a small business owner or to generate upside rental income. There is also the option to use it as a facility for cannabis cultivation and dispensing. This would require a conditional use permit.
    Exterior Features

    Lot Features Corner Lot Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Laundry Features None

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Building Status Existing Cap Rate 6.39 Country Us Gross Scheduled Income 42984.00 Insurance Expense 1240.00 Land Lease YN No Land Use Retail Laundry YN No Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 38993.00 Property Sub Type Retail Real Estate Tax Expense 2631.00 Special Listing Conditions Standard Water Source Public Year Built Source Assessor

    Listing provided courtesy of Jerry Sun of Re/Max Premier Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-29T00:25:55.507. 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 deemed reliable but is not guaranteed accurate by the MLS or Hart Coastal Group. Licensed in the State of California, USA.

     
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