6089 Atlantic Avenue
Active Under Contract
Active Under Contract
Description
All units available for you to take full control by setting new market rents...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 7.0% and a gross rent multiplier of 10x, 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!
- Listed by Juan Huizar • DRE #01417642 • Brokerage DRE #02163228 • Sage Real Estate Group, Inc. • 562-307-0838
- Listed by Andrea Swann • DRE #02192788 • Brokerage DRE #02192788 • Swann Investments
Property Details for 6089 Atlantic Avenue
Property Details for 6089 Atlantic Avenue
| Status | Active Under Contract |
|---|---|
| MLS # | PW24251736 |
| Days on Market | 74 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1953 |
| Lot Size | 0.10 AC / 4,259 SF |
| County | Los Angeles County |
Building Information for 6089 Atlantic Avenue
Property Information for 6089 Atlantic Avenue
- Tenant Pays: Electricity, Gas
- Gross Income: $139,608
- Gross Scheduled Income: $139,608
- Net Operating Income: $97,725
- Number Of Rented Garages: 0
- Gross Multiplier: 10.0
- Cap Rate: 7.0
- Operating Expense: $41,882
- Operating Expense Percent: 30.00%
- New Taxes Expense: $18,437
- Licenses Expense: $476
- Insurance Expense: $4,000
- Trash Expense: $0
- Water Sewer Expense: $2,400
- Total Expenses: $41,882
- Tax Block: 1
- Tax Tract Number: 6521
- Tax Census Tract: 5703.06
- CFD/Mello-Roos Fee: $809
- Tax Lot: 17
- Assessments YN: Yes
- Assessments: Buyer to Verify
- Community Features: Street Lights
- Appliances: Electric Range
- Equipment: Gas Or Electric Dryer Hookup
- Laundry: Yes
- Laundry Features: Gas & Electric Dryer Hookup
- Cooling: Ductless
- Heating Type: Ductless
- Heating: Ductless
- Flooring: Vinyl
- Window Features: Double Pane Windows
- Entry Location: 1
- Other Structures: Accessory Dwelling Unit
- Property Condition: Turnkey, Updated/Remodeled
- View Description: None
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
- Walk Score: 75
- Lot Features: 0-1 Unit/Acre
- Direction Faces: East
- Number Of Units: 4
- Land Lease: No
- Land Lease Type: Fee
- Road Frontage Type: Access Road
- Water: Public
- Sewer: Public Sewer
- Utilities: Sewer Connected, Water Connected
- Electric: Sewer Connected, Water Connected
- Water Source: Public
- Garage Spaces: 0
- Parking: Yes
- Parking Garage: Driveway
- Uncovered Spaces: 8
- Open Other Spaces Total: 8
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Parking Features: Driveway, Concrete, On Site
- Builders Tract Name: North Long Beach
- Builders Tract Code: North Long Beach (NLB)
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 2554
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 2554
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 3263
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 3263
- Unit Type Type: 4
- Number Of Units Leased: 0
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 4
- Number Of Separate Gas Meters: 4
- Number Of Separate Water Meters: 1
- Number With Range: 4
- Number With Refrigerator: 4
Property History for 6089 Atlantic Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 6089 Atlantic Avenue
Schools near 6089 Atlantic Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 9 to 12 | |||
| Charter - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
Powell Academy For Success PublicK to 8 | ||
Jordan High School Public9 to 12 | ||
Clear Passage Educational Center Charter9 to 12 | ||
IVA - Intellectual Virtues Academy Middle School Charter6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Sage Real Estate Group, Inc., Juan Huizar, DRE #01417642; Swann Investments, Andrea Swann, DRE #02192788
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. 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. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.