6064 Atlantic Avenue
Long Beach, CA, 90805
$3,900,000
Beds
0 Baths
SqFt
0.21 Acres
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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.

Property Details

Price:
$3,900,000
MLS #:
25572705
Status:
Active
Baths:
0
Address:
6064 Atlantic Avenue
Type:
Residential Income
Neighborhood:
7northlongbeach
City:
Long Beach
Listed Date:
Jul 31, 2025
State:
CA
ZIP:
90805
Lot Size:
9,180 sqft / 0.21 acres (approx)
Year Built:
1946
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