1056 E 6th St 9 Unit Apartment Building $3,052,280 CAD ($339,142 CAD/Unit) 6.08% Cap Rate Long Beach, CA 90802

Discover an exceptional investment opportunity in the heart of Long Beach's vibrant East Village/Alamitos Beach corridor.
Situated just minutes from the beach, Downtown Long Beach, major transit lines, and local dining and retail, 1056 E. 6th St. offers the perfect blend of convenience and desirability for tenants.
The property consists of eight (8) well-maintained 1-bedroom/1-bath units and one (1) 2-bedroom/1-bath unit. This practical and efficient layout appeals to the strong local demand for smaller rental units, supporting consistent occupancy and dependable renter interest.
Includes four secure, private garages, offering valuable on-site parking-an attractive amenity in this neighborhood. The garages also provide an opportunity for additional rental income or enhanced tenant convenience.
Property Highlights
•Prime Location: Centrally located near the coast, Downtown LB, Retro Row, and major employment hubs-highly attractive to renters seeking urban living with neighborhood charm.
•Historically Strong Occupancy: The property has maintained a high occupancy rate, reflecting its stable tenant base and consistent renter demand in this sought-after area.
•Reliable Income Stream: With historically strong income performance, this asset offers dependable cash flow and long-term financial stability for investors.
•Ample Rent Upside: Current rents are approximately 15% below market, offering investors a clear value-add opportunity to capture significant rental upside over time.
•On-Site Laundry Room: Additional tenant convenience and supplemental revenue potential through the property's dedicated laundry facility.
1056 E. 6th St. is a proven income-producing asset located in one of Long Beach's most desirable rental submarkets. Ideal for investors seeking stability, long-term performance, and a well-located multifamily property with enduring renter appeal.