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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!
Property Type(s):
Residential Income
| Last Updated | 12/19/2024 | Tract | North Long Beach (NLB) |
|---|---|---|---|
| Year Built | 1953 | Community | North Long Beach |
| County | Los Angeles |
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 |
Location
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Listed with Sage Real Estate
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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