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6060 Atlantic Ave, Long Beach, CA 90805
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6060 Atlantic Ave Long Beach, CA 90805

$2,750,000
  • 10 Beds
  • 10 Baths
  • 6,966 Sq.Ft.
For Sale
$2,750,000 Get Pre-Qualified
Map preview of 6060 Atlantic Ave, Long Beach, CA 90805

Property Overview: 6060 Atlantic Ave Long Beach, CA has 10 bedrooms, 10 bathrooms, 6,966 living square feet and 9,180 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 12-unit project cash flowing at an amazing 8% Cap Rate and 8.2 GRM after taking into account all construction costs! Priced at only 266k/door in the heart of Long Beach, it offers not only 6 fully renovated residential units upstairs but also 4 retail spaces (with RTI plans to convert to 4 residential units) + nearly RTI plans to convert the attached garages into 2 attached (1bed/1bath) ADUs. The 6 residential units (100% occupied) have been already fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity. The large 9,180 SF lot comes with ~9 open parking spaces as well as ~4 garage spaces. Price/Unit, Cap Rate & GRM are based on Total Price for the sake of conservatism, which includes the construction cost of 4 retail conversions at 75k/unit (300k) + 2 attached ADUs at 75k/unit (150k) for a total project cost of 450k offering a remarkable Cap Rate of 8% and 8.2 GRM after including all construction costs.

Listed by Armin Soleimani | BRE #01846872 | Global Platinum Properties, Inc.
Co-listed by Julio Ruiz | BRE #01911261 | Global Platinum Properties, Inc.
Last checked: 3 minutes ago | Last updated: January 11th, 2024 | Source CRMLS | DOM: 89
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Home details

Lot Sq. Ft
9,180
HOA Dues
$0/mo
Year built
1946
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24345869
City
Long Beach
County
Los Angeles
Time on Site
108 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 12
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $2,221
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $2,395
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $2,096
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $2,221
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,395
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,395
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 8%
  • Gross Rent Multiplier: 8.82
  • Gross Scheduled Income: --
  • Net Operating Income: $256,565
  • Gross Operating Income: $322,463
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 6060 Atlantic Ave

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Property Details for 6060 Atlantic Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Ceiling Fan(s)
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 13
  • Has Parking
  • Parking Features: Uncovered
Lot Information
  • Lot Size Source: Owner
Property Information
  • Total # of Units: 12
  • Parcel Number: 7124016005
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Located between 60th St., and 61st St. on the East Side of Atlantic Ave.
View more facts & features

Local Long Beach Agent

Sale History for 6060 Atlantic Ave

Last sold for $1,200,000 on February 15th, 2022

  • March, 2024

  • Mar 8, 2024

    Date

    Canceled

    CRMLS: 24345869

    $2,650,000

    Price

  • Jan 9, 2024

    Date

    Active

    CRMLS: 24345869

    $2,750,000

    Price

  • Listing provided courtesy of CRMLS

    Price Reduction! 12-unit project cash flowing at an amazing 8.35% Cap Rate and 7.9 GRM after taking into account all construction costs! Priced at only 258k/door in the heart of Long Beach, it offers not only 6 fully renovated residential units upstairs but also 4 retail spaces (with RTI plans to convert to 4 residential units) + nearly RTI plans to convert the attached garages into 2 attached (1bed/1bath) ADUs. The 6 residential units (100% occupied) have been already fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity. The large 9,180 SF lot comes with ~9 open parking spaces as well as ~4 garage spaces. Price/Unit, Cap Rate & GRM are based on Total Price for the sake of conservatism, which includes the construction cost of 4 retail conversions at 75k/unit (300k) + 2 attached ADUs at 75k/unit (150k) for a total project cost of 450k offering a remarkable Cap Rate of 8.35% and 7.9 GRM after including all construction costs.

  • January, 2024

  • Jan 9, 2024

    Date

    Active

    CRMLS: 24345869

    $2,750,000

    Price

  • January, 2024

  • Jan 4, 2024

    Date

    Canceled

    CRMLS: 23338121

    $2,750,000

    Price

  • Dec 7, 2023

    Date

    Active

    CRMLS: 23338121

    $2,750,000

    Price

  • Listing provided courtesy of CRMLS

  • December, 2023

  • Dec 5, 2023

    Date

    Canceled

    CRMLS: 23329869

    $2,750,000

    Price

  • Nov 7, 2023

    Date

    Active

    CRMLS: 23329869

    $2,750,000

    Price

  • Listing provided courtesy of CRMLS

  • November, 2023

  • Nov 4, 2023

    Date

    Canceled

    CRMLS: 23327691

    $2,350,000

    Price

  • Nov 1, 2023

    Date

    Active

    CRMLS: 23327691

    $2,350,000

    Price

  • Listing provided courtesy of CRMLS

    Huge 250k Price Reduction! 10-unit building cash flowing at an amazing 6.5% Cap Rate and 11.1 GRM from day 1! Priced at only 235k/door in the heart of Long Beach, it offers not only 6 fully renovated residential units but also 4 retail spaces (with plans to convert to 4 residential units) offering an incredible upside to 9.6% Cap Rate and 8.1 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 195k/door, 11.9% Cap Rate, and 6.8 GRM. The 6 residential units (100% occupied) have been already fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity. The large 9,180 SF lot comes with ~9 open parking spaces as well as ~4 garage spaces.

  • October, 2023

  • Oct 30, 2023

    Date

    Canceled

    CRMLS: 23321039

    $2,350,000

    Price

  • Oct 12, 2023

    Date

    Active

    CRMLS: 23321039

    $2,350,000

    Price

  • Listing provided courtesy of CRMLS

    Huge 250k Price Reduction! 10-unit building cash flowing at an amazing 6% Cap Rate and 11.9 GRM from day 1! Priced at only 235k/door in the heart of Long Beach, it offers not only 6 fully renovated residential units but also 4 retail spaces (with plans to convert to 4 residential units) offering an incredible upside to 8.25% Cap Rate and 9.3 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 195k/door, 10.1% Cap Rate, and 7.7 GRM. The 6 residential units (3 vacant) have been already fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity. The large 9,180 SF lot comes with ~9 open parking spaces as well as ~4 garage spaces.

  • October, 2023

  • Oct 11, 2023

    Date

    Canceled

    CRMLS: 23311159

    $2,350,000

    Price

  • Sep 13, 2023

    Date

    Active

    CRMLS: 23311159

    $2,495,000

    Price

  • Listing provided courtesy of CRMLS

    Huge 250k Price Reduction! 10-unit building cash flowing at an amazing 6% Cap Rate and 11.9 GRM from day 1! Priced at only 235k/door in the heart of Long Beach, it offers not only 6 fully renovated residential units but also 4 retail spaces (with plans to convert to 4 residential units) offering an incredible upside to 8.25% Cap Rate and 9.3 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 195k/door, 10.1% Cap Rate, and 7.7 GRM. The 6 residential units (3 vacant) have been already fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity. The large 9,180 SF lot comes with ~9 open parking spaces as well as ~4 garage spaces.

  • September, 2023

  • Sep 11, 2023

    Date

    Canceled

    CRMLS: 23297709

    $2,495,000

    Price

  • Aug 4, 2023

    Date

    Active

    CRMLS: 23297709

    $2,595,000

    Price

  • Listing provided courtesy of CRMLS

    100k Price Reduction! 10-unit building 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 $249k per door. The numbers speak for themselves with a remarkable 5.2% Cap Rate and a 13.4 GRM from day 1, with upside potential for even greater returns with projected figures of a 7.7% Cap Rate and a 9.9 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 207k/door, 9.5% Cap Rate, and 8.2 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!

  • November, 2021

  • Nov 17, 2021

    Date

    Active

    CRMLS: PW21250924

    $1,300,000

    Price

  • Listing provided courtesy of CRMLS

    EXTREMELY ATTRACTIVE INVESTMENT OFFERING: ***Low price per sqft with significant upside potential ***Two separate 2-story buildings mixed use, 4 retail units and 6 units 1 Bedr. + 1 Bath ***Each unit is individually metered for electricity and gas *Large lot with tenant parking and 2 two-car garages for extra income ***Apartment units have been upgraded ***GREAT LOCATION in high demand rental area near freeways, parks, schools, supported by City of Long Beach Uptown Property & Business Improvement District (PBID). Find out more information and see for yourself.

  • January, 2013

  • Jan 31, 2013

    Date

    Sold (Public Records)

    Public Records

    $578,000

    Price

  • February, 2001

  • Feb 28, 2001

    Date

    Sold (Public Records)

    Public Records

    $430,000

    Price

Show More

Tax History for 6060 Atlantic Ave

Assessed Value (2020): $650,813
Year Land Value Improved Value Assessed Value
2020 $394,091 $256,722 $650,813

Home Value Compared to the Market

This property vs the competition

6060 Atlantic Ave is listed 243.75% higher than the median list price for the city of Long Beach which has a median list price of $800,000. The median price per/sqft for Long Beach is $633 and this home is listed at $394.77 per/sqft which puts the price per square foot 37.63% lower than the median price per square foot for the city of Long Beach.

About 6060 Atlantic Ave

Detailed summary of property

6060 Atlantic Ave is a multi family located in Long Beach, CA 90805 and is currently for sale. This multi family property offers 10 bedrooms, 10 bathrooms, roughly 6,966 living square feet, and sits on an approximately 9,180 square foot lot. 6060 Atlantic Ave was first listed on ArdentRealEstateGroup.com on January 10, 2024. The homeowner is currently asking $2,750,000. The median priced home in Long Beach is $800,000 with a median price per square foot of $633. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 243.75% higher than the median priced home. Local competing homes currently for sale include 536 Saint Louis Ave, 1229 E 4th St and 441 Dawson Ave. While the average home in Long Beach, CA is selling in 56 days, 6060 Atlantic Ave has a days on market of 89 days. There are currently 570 homes for sale in the Long Beach real estate market and 325 of them are single family homes while 233 of them are condos and 12 are townhomes. For more information on this home for sale at 6060 Atlantic Ave Long Beach, CA 90805 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 6060 Atlantic Ave

Public county record property details
Beds
--
Baths
--
Year built
1946
Sq. Ft.
6,086
Lot Size
9,180
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
5,6
APN
7124-016-005

The source for these homes facts are from public records.

90805 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$679,000
Median List Price/Sq.Ft.
$544
Median Sold Price
$680,000
Median Sold Price/Sq.Ft.
$605
Total Inventory
60
Median Sale to List Price %
100%
Avg Days on Market
27
Loan Type
Conventional (40%), FHA (28%), VA (4%), Cash (12%), Other (12%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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