1060 6th st, Long Beach, CA 90802
Active
$950,000
4 Units
2 Beds
4 Baths
1,548 Area(sq.ft.)
Lot: 1,711 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | studio | 1 | No | $ 1,200 | $ 1,200 | $ 1,495 |
| Unit 2 | 1 | studio | 1 | No | $ 1,350 | $ 1,350 | $ 1,495 |
| Unit 3 | 1 | studio | 1 | No | $ 1,395 | $ 1,395 | $ 1,495 |
| Unit 4 | 1 | 2 | 1 | No | $ 2,155 | $ 2,155 | $ 2,250 |
| 4 | 2 | 4 | $ 6,100 | $ 6,100 | $ 6,735 |
| MLS #: | 25513223 |
| Days On Market: | 32 |
| Listing Date: | March 18, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 614 |
| Price per unit: | $ 237,500 |
| Year Built: | 1904 |
Property Details
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 countertops, updated light fixtures, and new water heaters. 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.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 71,004 |
| Total Annual Expense: | $ 23,480 |
| Net Operating Income: | $ 47,524 |
| Gross Annual Income: | $ 73,200 |
| Cap Rate: | 5% |
| Gross Rent Multiplier: | 12.98 |
Structure
| Type of Units: | 0+1,2+1 |
| Buildings: | 1 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | LBR3S |
| Parking Garage: | None |
Interior
| AC/Cooling: | None |
| Equipment: | None |
| Heating: | Wall |
Exterior
Detailed Map
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