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$1,475,000
Est. payment /mo
4,259 Sqft Lot
UPDATED:
12/28/2024 08:24 PM
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW24251736
Style Contemporary,Traditional
Originating Board California Regional MLS
Year Built 1953
Lot Size 4,259 Sqft
Property Description
Introducing 6089 Atlantic Ave - A Turnkey 4-Plex Investment Opportunity! This beautifully remodeled 4-unit property is a rare gem in Long Beach, offering both newly constructed ground-floor units and fully renovated top-floor units. With a mix of two 3-bedroom, 2-bath units (735 sq. ft. each) and two 2-bedroom, 1-bath units (600 sq. ft. each), this property delivers modern living spaces that are move-in ready. Key Features: All units available for you to take full control by setting new market rents from day one. Using the City of Long Beach Housing Authority payment standards, the projected annual income is $139,608. Strong Financials: Enjoy a projected cap rate above 6.5% and a gross rent multiplier of 10.5, based on potential market rents. Turnkey Condition: All units have been upgraded with top-to-bottom renovations, including in-unit laundry hookups and energy-efficient mini-split systems. Parking: Ample parking is available in both the front and rear of the property. Zoning & Development Potential: This property is situated in an RMU-3-A zoning area, allowing for high-density residential development. Options include: Re-permit the ADU as a primary unit by paying applicable fees. Add up to 3-4 detached ADUs in the front or center open space
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Rooms
Kitchen Oven Range - Electric
Interior
Laundry 38
Exterior
Parking Features Common Parking Area, Other
Garage Spaces 8.0
Pool 31, None
View None
Building
Water District - Public
Architectural Style Contemporary, Traditional
Others
Tax ID 7125035016
Special Listing Condition Not Applicable
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Listed by Juan Huizar • Sage Real Estate
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Joel Martinez
Property Connection Specialist | License ID: 02338033
Property Connection Specialist License ID: 02338033