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6062 Atlantic Ave, Long Beach, CA 90805
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6062 Atlantic Ave Long Beach, CA 90805

$2,595,000
  • 10 Beds
  • 10 Baths
  • 6,966 Sq.Ft.
For Sale
$2,595,000 Get Pre-Qualified
Map preview of 6062 Atlantic Ave, Long Beach, CA 90805

Property Overview: 6062 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: Price Reduction! 12-unit project cash flowing at an amazing 8.5% Cap Rate and 7.7 GRM after taking into account all construction costs! Priced at only 253k/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 8.5% and 7.7 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: 8 minutes ago | Last updated: August 23rd, 2024 | Source CRMLS | DOM: 107

Home details

Lot Sq. Ft
9,180
HOA Dues
$0/mo
Year built
1946
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24402803
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: $0
  • 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: $0
  • 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: $0
  • 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: $0
  • 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: $2,395
  • 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: $2,096
  • 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: $2,300
  • 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: $2,221
  • Pro Forma/Market Rent: $2,395
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 8.52%
  • Gross Rent Multiplier: 7.78
  • Gross Scheduled Income: --
  • Net Operating Income: $259,496
  • Gross Operating Income: $323,627
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 6062 Atlantic Ave

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Property Details for 6062 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
Assessment Information
  • No Assessments
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 6062 Atlantic Ave

View property's historical transactions

  • June, 2024

  • Jun 11, 2024

    Date

    Active

    CRMLS: 24402803

    $2,595,000

    Price

Tax History for 6062 Atlantic Ave

Recent tax history for this property
Year Land Value Improved Value Assessed Value
The tax history for this property will expand as we gather information for this property.

Home Value Compared to the Market

This property vs the competition

6062 Atlantic Ave is listed 237.45% higher than the median list price for the city of Long Beach which has a median list price of $769,000. The median price per/sqft for Long Beach is $648 and this home is listed at $372.52 per/sqft which puts the price per square foot 42.51% lower than the median price per square foot for the city of Long Beach.

About 6062 Atlantic Ave

Detailed summary of property

6062 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. 6062 Atlantic Ave was first listed on ArdentRealEstateGroup.com on June 11, 2024. The homeowner is currently asking $2,595,000. The median priced home in Long Beach is $769,000 with a median price per square foot of $648. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 237.45% higher than the median priced home. Local competing homes currently for sale include 1512 N Stanton Pl, 435 W 11th St and 4016 E Wilton. While the average home in Long Beach, CA is selling in 65 days, 6062 Atlantic Ave has a days on market of 107 days. There are currently 777 homes for sale in the Long Beach real estate market and 410 of them are single family homes while 343 of them are condos and 22 are townhomes. For more information on this home for sale at 6062 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 6062 Atlantic Ave

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
--
Stories
--
Type
--
Pool
--
Spa
--
County
--
Lot#
--
APN
--

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
$685,000
Median List Price/Sq.Ft.
$534
Median Sold Price
$700,000
Median Sold Price/Sq.Ft.
$568
Total Inventory
94
Median Sale to List Price %
101.89%
Avg Days on Market
28
Loan Type
Conventional (42.11%), FHA (36.84%), VA (10.53%), Cash (0%), Other (10.53%)

Tour This Home

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Contact Jon
Long Beach Agent
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(714) 706-1823

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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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