6089 Atlantic Avenue, Long Beach, CA 90805 (MLS # PW24251736)
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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!
| DAYS ON MARKET | 3 | LAST UPDATED | 12/19/2024 |
|---|---|---|---|
| TRACT | North Long Beach (NLB) | YEAR BUILT | 1953 |
| COMMUNITY | North Long Beach | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | Ductless |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Range |
| AREA | North Long Beach |
| GARAGE | Concrete, Driveway, On Site |
| HEAT | Ductless |
| HOA DUES | 0 |
| LOT | 4259 sq ft |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| PARKING | Concrete,Driveway,On Site |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Modern, Traditional |
| SUBDIVISION | North Long Beach (NLB) |
| UTILITIES | Sewer Connected,Water Connected |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | LBCNA |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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