$ 3,395,000
-
$3,395,000
Price -
1
Bed -
1
Bath -
6,966
SqFt
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About the Listing PB13351 - PBOYOSTE
6068 Atlantic Avenue is a fully renovated turnkey 12-unit apartment community located along the rapidly evolving Atlantic Avenue corridor in Long Beach, an area experiencing significant public and private redevelopment investment. This turnkey asset offers investors immediate cash flow at an attractive 7.14% cap rate from day one. The property consists of two buildings and features a unit mix of twelve one-bedroom/one-bath units, including four newly converted retail-to-residential units, and two brand-new attached ADUs. Each unit was fully vacated, extensively renovated, and repositioned to achieve market rents, minimizing near-term capital requirements. Recent upgrades include new electrical and plumbing systems, dual-pane windows, modernized interiors and exteriors, and individual water heaters for each unit. The property is separately metered for gas and electricity, helping to reduce operating expenses. Additionally, preliminary plans to construct eight one-bedroom ADUs in the rear parking area present a compelling value-add opportunity to substantially boost the asset’s revenue. Buyer to verify ADU potential. This offering combines stable in-place income with meaningful upside in one of Long Beach’s targeted growth corridors.
Listing Highlights
Status
Active
Days on Site
15
Property Type
Multi-Family
MLS ®
PW26097416
Year Built
1946
Total Square Footage
6,966
Lot/Acreage
0.21
Interior Details
- Bedrooms: 1
- Bathrooms: 1 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Rectangular Lot,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 8
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7124016005
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
6060 Atlantic Long Beach, CA 90805
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