Armin Soleimani
This listing was posted on RealtyWW.
$2,650,000
Home For Sale In Long Beach, California
Price:
$2,650,000
BR/BA:
10+ BR, 10+ BA
Location:
6062 Atlantic Ave, Long Beach, CA
Description:
Price Reduction! 12-unit project cash flowing at an amazing 8.35% Cap Rate and 7.9 GRM after taking into account all construction costs! Priced at only 258k/door in the heart of Long Beach, it offers not only 6 fully renovated residential units upstairs but also 4 retail spaces (with RTI plans to convert to 4 residential units) + nearly RTI plans to convert the attached garages into 2 attached (1bed/1bath) ADUs. The 6 residential units (100% occupied) have been already fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity. The large 9, 180 SF lot comes with ~9 open parking spaces as well as ~4 garage spaces. Price/Unit, Cap Rate and GRM are based on Total Price for the sake of conservatism, which includes the construction cost of 4 retail conversions at 75k/unit (300k) + 2 attached ADUs at 75k/unit (150k) for a total project cost of 450k offering a remarkable Cap Rate of 8.35% and 7.9 GRM after including all construction costs.For more details: https://realtyww.info/homes_long-beach-d523493/for-sale_i69683115
Property Type:
Single-Family Houses
Sq feet:
180 sq. ft.
Amenities:
Parking
Posted:
March 20 on RealtyWW
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More About this Listing: Home For Sale In Long Beach, California
Home For Sale In Long Beach, California is a 10+ BR 10 Bathroom, 10+ BA, 12 Bathroom Single-Family Homes for Sale at 6062 Atlantic Ave in Long Beach CA. Find other listings like Home For Sale In Long Beach, California and listings near 6062 Atlantic Ave by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 12 Bathroom Single-Family Homes for Sale in Long Beach CA.
Home For Sale In Long Beach, California is a 10+ BR 10 Bathroom, 10+ BA, 12 Bathroom Single-Family Homes for Sale at 6062 Atlantic Ave in Long Beach CA. Find other listings like Home For Sale In Long Beach, California and listings near 6062 Atlantic Ave by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 12 Bathroom Single-Family Homes for Sale in Long Beach CA.