USACALong Beach6064 Atlantic Ave
6064 Atlantic Ave, Home with 12 bedrooms, 12 bathrooms and 13 parking in Long Beach CA | Image 1
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$3,900,000

6064 Atlantic Ave, Long Beach, CA

Real Estate

For Sale

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  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 6966 sqft
Garage No
Maintenance Fees 
Taxes 
Days Active 1
Approx. Age 1946
Avg. Price Per Sqft $559
MLS® Number 25572705

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

100% Renovated 12-unit apartment building cash flowing at an amazing current 6% Cap Rate from day 1. Preliminary plans to add 8 detached ADUs to achieve a remarkable 9.2% Cap Rate, 8.3 GRM, and 228k/unit after taking into account all construction costs (~660k assuming $200/SF). The property features an easy to rent unit mix of 12 (1-bed/1bath) units including 4 brand-new retail to apartment conversions as well as 2-brand new attached ADUs. Turnkey opportunity where every single unit was vacated, completely renovated, and leased at market rent with additional upside by building 8 detached ADUs in the back parking lot. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs.The property has undergone major capital improvements including updated electrical, plumbing, brand-new windows, interiors, exteriors, etc. The fully remodeled units boast new modern cabinets, flooring, lighting, new bathrooms, and more.Show Description
MLS® Number25572705
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1946
Stories2
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatWall Furnace
A/C
Heating Fuel

Extras

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