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6062 Atlantic Avenue Long Beach, CA $ 2,595,000
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$ 2,595,000 Get more info
6062 Atlantic Avenue
$ 2,595,000
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Share Save

6062 Atlantic Avenue

Long Beach, CA, 90805
$ 2,595,000
Bedrooms12 Baths12.0 Sq 6,966

Monthly Estimate*

$ 18,127

Listed by Global Platinum Properties, Inc.
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Multi-Family Home for sale in Long Beach, CA

for $2,595,000 with 12 bedrooms and 12 full baths. This 6,966 square foot home was built in 1946 on a lot size of 0.2107.

Price Reduction! 12-unit project cash flowing at an amazing 8.5% Cap Rate and 7.7 GRM after taking into account all construction costs! Priced at only 253k/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 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 SF lot 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 construction cost of 4 retail conversions at 75k/unit (300k) + 2 attached ADUs at 75k/unit (150k) for a total project cost of 450k offering a remarkable Cap Rate of 8.5% and 7.7 GRM after including all construction costs.

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Multi-Family Active

Price

$ 2,595,000

Bedrooms

12

Full Bath

12

Property Type

Multi-Family

Taxes

$ 0

Style

Lot Size

0.2107

Year Built

1946

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

24367527

Days on Market

49
Features
General
Interior Features CeilingFans
Heating WallFurnace
Appliances Refrigerator
Zoning LBCNA
Year Built 1946
Levels MultiSplit
Gross Income 333636.0
County Los Angeles
Net Operating Income 259496.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Located between 60th St. and 61st St. on the East Side of Atlantic Ave.
City Long Beach
View Y/N N
Senior Community Y/N N
Total Units 12
MLS Area 7 - North Long Beach
Lot Size Square Feet 9180.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Atlantic
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 31
Standard Status Active
Cap Rate 8.52
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Exterior
Parking Features Uncovered
Total Parking 13.0
Lot Size Area 9180.0
Number of Buildings 12
Spa N
Building Area Total 6966.0
Lot Dimensions 80x115
Lot Size Acres 0.2107
Lot Size Units SquareFeet
Lot Size Source Owner
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Avenue
Total Bedrooms 12
Electric On Property Y/N N
Total Baths 12
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Internal Only
Street Number 1 6062
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* Excluded Features
List By
Global Platinum Properties, Inc.

Broker

(310) 666-2246

Phone

Affordability Calculator

$18,127
Per Month
100%
0%
0%
Monthly Principal & Interest
$18,127
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
4/12/2024$2,595,000 -2.08% Price Down
3/12/2024$2,650,000 Listed Price

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6062 Atlantic Avenue, Long Beach, CA, 90805 is a Multi-Family Home for sale at $2,595,000 with 6,966 sqft and a lot size of 0.2107. 6062 Atlantic Avenue has 12 bedrooms, 12.0 baths, and was built in 1946. The property's zip code is 90805 which is in Long Beach, CA

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