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6060-6068 Atlantic Ave
Long Beach, CA 90805
Multifamily Property For Sale
·
12 Units
Investment Highlights
- Turnkey 12-Unit Asset with Immediate Cash Flow: Fully renovated property achieving a strong 7.14% cap rate from day one.
- Extensive Capital Improvements: Upgrades include new electrical and plumbing, dual-pane windows, modern interiors, and individual water heaters
- Prime Location on Atlantic Avenue Corridor: Situated along a key Long Beach redevelopment corridor benefiting from ongoing investment
- Unit Mix: Twelve 1-bed/1-bath units, including four newly completed retail-to-residential conversions and two newly constructed attached ADUs.
- Significant Value-Add Potential: A new investor may explore potential to develop eight one-bedroom ADU’s (buyer to verify ADU potential)
Executive Summary
Marcus & Millichap is pleased to present 6068 Atlantic Avenue, a fully renovated turnkey 12-unit apartment community located along the rapidly evolving Atlantic Avenue corridor in Long Beach, an area experiencing significant public and private redevelopment investment. This turnkey asset offers investors immediate cash flow at an attractive 7.14% cap rate from day one.
The property consists of two buildings and features a unit mix of twelve one-bedroom/one-bath units, including four newly converted retail-to-residential units, and two brand-new attached ADUs. Each unit was fully vacated, extensively renovated, and repositioned to achieve market rents, minimizing near-term capital requirements.
Recent upgrades include new electrical and plumbing systems, dual-pane windows, modernized interiors and exteriors, and individual water heaters for each unit. The property is separately metered for gas and electricity, helping to reduce operating expenses.
Additionally, preliminary plans to construct eight one-bedroom ADUs in the rear parking area present a compelling value-add opportunity to substantially boost the asset’s revenue. Buyer to verify ADU potential.
This offering combines stable in-place income with meaningful upside in one of Long Beach’s targeted growth corridors.
The property consists of two buildings and features a unit mix of twelve one-bedroom/one-bath units, including four newly converted retail-to-residential units, and two brand-new attached ADUs. Each unit was fully vacated, extensively renovated, and repositioned to achieve market rents, minimizing near-term capital requirements.
Recent upgrades include new electrical and plumbing systems, dual-pane windows, modernized interiors and exteriors, and individual water heaters for each unit. The property is separately metered for gas and electricity, helping to reduce operating expenses.
Additionally, preliminary plans to construct eight one-bedroom ADUs in the rear parking area present a compelling value-add opportunity to substantially boost the asset’s revenue. Buyer to verify ADU potential.
This offering combines stable in-place income with meaningful upside in one of Long Beach’s targeted growth corridors.
Property Facts
| Price Per Unit | $394,887 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 7.14% | Building Size | 6,966 SF |
| Gross Rent Multiplier | 10.26 | Average Occupancy | 75% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1946/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.29/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CCR - Commercial | ||
| Price Per Unit | $394,887 CAD |
| Sale Type | Investment |
| Cap Rate | 7.14% |
| Gross Rent Multiplier | 10.26 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 6,966 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built/Renovated | 1946/2023 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | CCR - Commercial |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $2,999 CAD | - |
Property Taxes
| Parcel Number | 7124-016-005 | Improvements Assessment | $584,997 CAD |
| Land Assessment | $1,169,994 CAD | Total Assessment | $1,754,991 CAD |
Property Taxes
Parcel Number
7124-016-005
Land Assessment
$1,169,994 CAD
Improvements Assessment
$584,997 CAD
Total Assessment
$1,754,991 CAD
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