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6062 Atlantic Avenue

Long Beach, CA 90805

– beds
– baths
– sqft
9,180 sqft lot
1946 build
– on site

12-unit project cash flowing at an amazing 8% Cap Rate and 8.5 GRM after taking into account all remaining construction costs! Priced at only 266k/door in the heart of Long Beach, it offers not only 6 fully renovated residential units upstairs but also 4 retail spaces (with RTI plans under construction to convert to 4 residential units) + nearly RTI plans to convert the attached garages into 2 attached (1bed/1bath) ADUs. The 6 residential units (100% occupied) have been already fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity. The large 9,180 SFlot comes with ~9 open parking spaces as well as ~4 garage spaces. Price/Unit, Cap Rate & GRM are based on Total Price for the sake of conservatism, which includes the remaining construction cost of 4retail conversions at 50k/unit (200k) + 2 attached ADUs at 75k/unit(150k) for a total project cost of 350k offering a remarkable Cap Rate of 8% and 8.5 GRM after including all construction costs.

Listed By CRMLS_CA / Armin Soleimani / Global Platinum Properties, Inc.

Last checked: Checking… • Last updated Oct 31, 2024 •

MLS# 24458943 —

The Building

Year Built:

1946
New Construction:

No
Building Area Total:

6966.00
# of Buildings:

12
Total Number Of Units:

12
Stories Total:

2

Interior

Features:

Ceiling Fan(s)
Levels:

Multi/Split

Location

Directions:

Located between 60th St., and 61st St. on the East Side of Atlantic Ave.
Latitude:

33.86488400
Longitude:

-118.18488300

The Property

Property Type:

Residential Income
Zoning:

LBCNA
Lot Size Area:

9180.0000
Lot Size Dimensions:

80x115
Lot Size Acres:

0.2107
Lot Size SqFt:

9180.00
Lot Size Source:

Owner

Listing Agent

Contact info:

The Listing

Special Listing Conditions:

Standard
Parcel Number:

7124016005

Heating & Cooling

Heating:

1
Heating:

Wall Furnace

Appliances

Appliances:

Refrigerator
Included:

Yes

The Community

Senior Community:

No
Association:

No
Assessments:

No

Parking

Parking:

Yes
Parking:

Uncovered
Parking Spaces:

13.00

Explore the Area

My Commute

From

Sale history

Date	Event	Source	Price
10/31/24 Oct 31, 2024	Listed / Active	CRMLS_CA	$2,850,000
6/11/24 Jun 11, 2024	Listed / Active	CRMLS_CA
4/11/24 Apr 11, 2024	Price Changed	CRMLS_CA

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This multifamily located in North Long Beach, Long Beach, CA 90805 is currently for sale for $2,850,000. 6062 Atlantic Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 0 days. 6062 Atlantic Avenue is in the North Long Beach neighborhood of Long Beach. This multifamily is in the attendance area of Harte Elementary School, Jordan High School, and Lindbergh Middle School.

Listing Courtesy of: CRMLS_CA and Global Platinum Properties, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of 16:25 on Oct 31.

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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.