
Long Beach, California 90805
This Turnkey Multi-Family Asset is listed at $3,395,000, representing a premium investment relative to the $3,181,646 Fair Market Value. Boasting a Mint Condition Rating, the property provides an attractive 7.14% Cap Rate from day one, following extensive renovations to all twelve units. The asset includes modernized systems and significant Value-Add Potential through preliminary plans for eight additional ADUs in the rear. This stabilized, high-yield opportunity is an ideal acquisition for Buy-and-Hold Investors or Portfolio Diversifiers looking for immediate cash flow in a growth corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6060 Atlantic Subject | $3,395,000* List Price | 0 | 0 | 6,966 | $457 | - |
A 473 E 55th Street Active | $2,925,000 List Price | 0 | 0 | 7,592 | $385 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property is a fully renovated turnkey asset with recent upgrades to electrical and plumbing systems, new dual-pane windows, and modernized interiors, meeting the criteria for a renovation under 5 years old in mint condition.
The property is fully renovated with new electrical and plumbing systems, dual-pane windows, and modernized interiors, minimizing immediate capital expenditure for the buyer.
With an attractive 7.14% cap rate and units already repositioned to market rents, this asset provides immediate, stable cash flow in a high-growth redevelopment corridor.
Preliminary plans for eight additional one-bedroom ADUs in the rear parking area offer a compelling opportunity to increase density and substantially boost future revenue.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 6966, other record living area = 6086.
Utilizing the rear parking area for eight additional ADUs would likely eliminate on-site parking, which may impact tenant retention and ease of access in a busy urban corridor.
The property consists exclusively of one-bedroom units, which limits the tenant pool to individuals or couples and lacks the demographic stability provided by larger family-sized units.
6068 Atlantic Avenue is 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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 6,966 | 6,048 | 60% |
| Lot Size | 9,180 | 7,553 | 60% |
| Price | $3.40M | $1.75M | 80% |
| Price per sq ft | $487 | $320 | 60% |
| Built year | 1946 | 1954 | 20% |
| HOA | $0 | $0 | 50% |
| Days on market | 32 | 124 | 20% |
May 5, 2026
$3,395,000
Initial Listing
Feb 15, 2022
$1,200,000
Public Record
Feb 28, 2001
$430,000
Public Record
May 20, 1999
$320,000
Public Record