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22323795
22323824

1060 E 6th St, Long Beach, CA 90802 For Sale

JG
02128816
Lyon Stahl Investment Real Estate
Listed by Lyon Stahl Investment Real Estate
$890,000
465 days on market
Updated 53 days ago

1060 E 6th St

Details
APN 7266-007-001
Property Type Multifamily
Sub Type Apartment Building
Square Footage 1,548
Units 4
Cap Rate 5.10%
NOI $45,347
Occupancy 100%
Pro-Forma Cap Rate 6.84%
Pro-Forma NOI $60,900
Price per SqFt $575
Broker Co-Op Yes
Year Built 1904
Buildings 1
Stories 2
Acreage 0.040
Zoning LBR3S
Investment Type Value Add

Multifamily | 4 Units | $222,500/unit

Marketing description

The Glaser Group is pleased to present 1060 E 6th St, a well-maintained fourplex located in the North Alamitos Beach neighborhood of Long Beach. This charming property features a desirable unit mix of (3) studio apartments and (1) two-bedroom, one-bath unit. Recent upgrades include new vinyl flooring, granite/quartz countertops, updated light fixtures, and a new water heater. Units 3 and 4, consisting of (1) studio and (1) two-bedroom, one-bath unit, are currently vacant, with the two-bedroom unit newly remodeled. The property benefits from no local rent control, allowing for strong rental growth potential. The current owner also collects RUBS (Ratio Utility Billing System) to efficiently offset utility costs.

This low-priced four-unit property offers a rare, low barrier to entry for investors looking to break into the Long Beach multifamily market. With strong in-place rents, minimal overhead, and no local rent control restrictions, this property presents an excellent opportunity for both new and seasoned investors to generate steady cash flow and long-term appreciation.

The property is ideally situated just a 5-minute drive to the Long Beach Waterfront, providing easy access to beaches, parks, and oceanfront attractions. Residents can enjoy the convenience of nearby shopping, dining, and entertainment options, including Retro Row (4th Street), Pine Avenue, The Pike Outlets, and the East Village Arts District. The property is also in close proximity to major developments and mixed-use projects, further enhancing its long-term investment appeal.

Investment highlights

  • Well maintained 4-plex built in 1904

  • Unit mix of (3) Studios and (1) 2BD/1BA unit

  • Situated in the prime location of North Alamitos Beach

  • No local rent control

  • Units 3 & 4: (2BR/1BA) remodeled and vacant; (1) studio and (1) 2BR/1BA

  • Units 1 & 4 have a shared private patio

  • Close proximity to retail, dining, and entertainment

  • Owner collects RUBS from tenants to offset utilities

  • 5 minute drive to the Long Beach Waterfront

  • Strong in place rents with low overhead

  • New laminate floors, granite/quartz countertops, and new light fixtures, and a new water heater

Listing Contacts

JG
02128816
Lyon Stahl Investment Real Estate
Listed by Lyon Stahl Investment Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$45,347.00
$3,778.92/mo

Valuation Metrics

0
DSCR
5.1%
Cap Rate
5.1%
ROI

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