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)… Read More 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! Read Less
Property listed by Sage Real Estate, Juan Huizar 562-307-0838
Listing Snapshot
Days Online
2
Last Updated
Property Type
Quadruplex
Lot Size
0.1 Acres
Year Built
1953
MLS Number
PW24251736
30 Days Snapshot Of 90805
$636k
-7%
(avg) sold price
8
-65%
homes sold
100
+17%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
ElectricRange
Building
Built in 1953, Building area total: 2,670, 2 buildings, Architectural style: Modern, Traditional, Attached, Common walls: TwoCommonWallsOrMore
Community
StreetLights
Cooling
Ductless
Expenses
Insurance expense: $4,000, Licenses expense: $476, New taxes expense: $18,437, Operating expense: $41,882, Water sewer expense: $2,400
Floors
Vinyl
Heating
Ductless
Income
Gross income: $139,608, Net operating income: $97,725
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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