6068 Atlantic Avenue

Property Overview

Huge ~700k Price Reduction! 100% Renovated 12-unit apartment building cash flowing at an amazing current 7% Cap Rate from day 1. Preliminary plans to add 8 detached ADUs to achieve a remarkable 10.8% Cap Rate, 7.3 GRM, and 198k/unit after taking into account all construction costs (~745k assuming $225/SF). The property features an easy to rent unit mix of 12 (1-bed/1bath) units including 4 brand-new retail to apartment conversions as well as 2-brand new attached ADUs. Turnkey opportunity where every single unit was vacated, completely renovated, and leased at market rent with additional upside by building 8 detached ADUs in the back parking lot. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. The property has undergone major capital improvements including updated electrical, plumbing, brand-new windows, interiors, exteriors, etc. The fully remodeled units boast new modern cabinets, flooring, lighting, new bathrooms, and more.

Home Details

Property type: Residential Income
Year built: 1946
Living area: 6,966 sq ft
Lot size: 9,180 sq ft
Parking: 13 spaces
Stories: 2
Days on market: 8
MLS status: Active
Zoning: LBCNA

Features & Amenities

Interior

Ceiling Fans

Appliances

Refrigerator

Parking

Uncovered

Community, Schools & Utilities

Utilities

Heating: WallFurnace

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Location & Neighborhood

Long Beach, CA 90805

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Frequently Asked Questions About 6068 Atlantic Avenue

Property type: Residential Income

The current asking price is $3,225,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.

Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 6068 Atlantic Avenue. Our team will confirm availability and timing.

This 12 bedrooms and 12 bathrooms property offers approximately 6,966 square feet of living space. It was built in 1946. Review the listing details and disclosures, then independently verify material features before making a decision.

The property is in Long Beach, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.

Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Long Beach property.

The MLS currently reports the property as Active. It has been listed for 8 days. Status can change, so verify availability before relying on it.