$ 3,695,000
-
$3,695,000
Price -
6
Bed -
6
Bath -
6,966
SqFt
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About the Listing CLW-X82397 - CLW-C120232,CLW-C131070
Price Reduction! 100% Renovated 12-unit apartment building cash flowing at an amazing current 6.5% Cap Rate from day 1. Preliminary plans to add 8 detached ADUs to achieve a remarkable 9.7% Cap Rate, 8 GRM, and 217k/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.
Listing Highlights for 6064 Atlantic Ave
Status
Active
Days on Site
17
Property Type
Multi-Family
MLS ®
25603459
Year Built
1946
Total Square Footage
6,966
Lot/Acreage
0.21
County
Los Angeles
Area
7 - North Long Beach
Interior Details
- Bedrooms: 6
- Bathrooms: 6 Full
- Appliances: Refrigerator
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Ceiling Fan(s)
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 13
- Zoning: LBCNA
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Uncovered
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7124016005
- Tax Year: N/A
Payment Calculator
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Listing Location
Questions About..
6064 Atlantic Ave Long Beach, CA 90805
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