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6062 Atlantic Avenue
USD 2,595,000
Property ID: 23297709
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6062 Atlantic Avenue ,90805
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icon 9180 SqFt
icon Built in 1946
icon USD 283/SqFt
icon 6 Beds
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
6
Bathrooms
0
Interior Size
6086
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1946
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Detailed Introduction Of This Home
10-unit buildings located in the heart of Long Beach, offering not only 6 fully renovated vacant residential units but also 4 retail spaces (with plans to convert to 4 residential units), all priced at an amazing $259k per door. The numbers speak for themselves with a remarkable 5% Cap Rate and a 13.9 GRM from day 1, with upside potential for even greater returns with projected figures of a 7.5% Cap Rate and a 10.3 GRM on Proforma. And if that wasn't enough to pique your interest, there are preliminary plans to convert the attached garages into 2 attached (1bed/1bath) ADUs, further improving the numbers to only 216k/door, 9.4% Cap Rate, and 8.6 GRM. On top of that, there are plans in place to convert the 4 retail stores into 4 additional residential units - perfect for maximizing rental income potential. But wait, there's more! The unit mix is easy to rent out, consisting of six spacious one-bedroom and one-bathroom apartments alongside four large storefronts. What sets this property apart is that each unit has its own gas and electricity metering, ensuring hassle-free management for both tenants and landlords alike. The 6 residential units have been fully renovated and boast new modern cabinets, flooring, lighting, new bathrooms, as well as significant exterior improvements including brand-new stairs and decks. Situated on a generous lot spanning over 9,200 square feet, this property offers ample space for tenants' vehicles with nine open parking spots at the rear plus an additional four garages that hold potential for conversion into ADUs as well. Don't let this chance slip through!
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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Photos (26)
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6062 Atlantic Avenue
USD 2,595,000 6 Beds
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