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2801 Adriatic Avenue
About This Property
The fully remodeled kitchen offers new cabinetry, quartz-style countertops, stainless steel appliances, designer pendant lighting, a sleek gas range, and seamless flow into the dining and living spaces. Enjoy updated bathrooms, new flooring, recessed lighting, fresh interior and exterior finishes, central A/C, central heat, new appliances, a new roof, and beautifully updated landscaping.
The home also includes an office/flex space that could potentially be converted into a 4th bedroom, adding valuable flexibility for guests, remote work, or additional living needs. The private fenced yard, patio area, detached 2-car garage, and wide driveway provide excellent outdoor living, parking, and storage.
This property may also offer a great opportunity for short-term, Airbnb rental potential, subject to buyer verification and City of Long Beach permit approval. Buyers are advised to check directly with the city regarding short-term rental permit requirements, application process, zoning, and regulations. The property is also ADU potential, with a proposed ADU floor plan available through the supplemental link, offering added potential for guest quarters, multigenerational living, or possible rental income, subject to city approval and permits.
Move-in ready with modern upgrades, great curb appeal, open-concept living, ADU potential, possible income opportunity, and a convenient Long Beach location near schools, parks, shopping, dining, and commuter routes.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017