6089 Atlantic Avenue

Long Beach, CA 90805

$1,475,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1953

calendar_month Built

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 spaces for additional rental income. Maximize Density: Explore the potential to develop 30-50 units with density bonuses, making this property an excellent covered land play for future growth. Whether you’re looking for a fully renovated, income-generating property or a site with incredible redevelopment potential, 6089 Atlantic Ave checks all the boxes. Don’t miss this unique opportunity to invest in Long Beach's thriving real estate market. Contact us today for more details or to schedule a showing!

Listing Information

List Price $1,475,000
Status Active
MLS PW24251736
HOA $0
Type Residential Income
Subtype Quadruplex
Year Built 1953
Lot Size 4,259
Structure Size N/A
DOM 9
Courtesy Of Sage Real Estate
Listing Agent Juan Huizar DRE#01417642
Co-Listing Agent Andrea Swann DRE#02192788

Interior Features

Laundry Information
Location(s) Electric Dryer Hookup, Gas Dryer Hookup
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Vinyl
Cooling Type
Cooling Type Ductless

Exterior Information

Maps

Listing information courtesy of: Juan Huizar, Andrea Swann, Sage Real Estate . *Based on information from the Association of REALTORS/Multiple Listing as of Dec 28th, 2024 at 9:22 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.