Homes for sale - 6062 Atlantic AVE, Long Beach, CA 90805

REQUEST A TOUR

In-PersonVirtual Tour

Josh Gregorio

josh.gregoriorealestategroup@gmail.com +1(661) 447-5111

$ 2,850,000

Est. payment | -/mo

12 Beds

12 Baths

6,966 SqFt

Save

$ 2,850,000

Est. payment | -/mo

Save

12 Beds

12 Baths

6,966 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,966 sqft

Price per Sqft $409

MLS Listing ID 24458943

Bedrooms 12

HOA Y/N No

Year Built 1946

Lot Size 9,178 Sqft

Property Description

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.

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Zoning LBCNA

Interior

Interior Features Ceiling Fan(s)

Heating Wall Furnace

Fireplace No

Appliance Refrigerator

Exterior

Garage Uncovered

Parking Type Uncovered

Total Parking Spaces 13

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 7124016005

Special Listing Condition Standard

Listed by Armin Soleimani • Global Platinum Properties, Inc.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(661) 447-5111

josh.gregoriorealestategroup@gmail.com

3400 Calloway Dr Suite 700, Bakersfield, California, 93312, USA

6062 Atlantic AVE Long Beach, CA 90805

Josh Gregorio

Key Details

Location

Interior

Exterior

Building

Others

GET MORE INFORMATION

Go tour this home

6062 Atlantic AVE