1060 E 6th St
4 Unit Apartment Building $1,360,419 CAD ($340,105 CAD/Unit) 5% Cap Rate Long Beach, CA 90802
INVESTMENT HIGHLIGHTS
- Well maintained 4-plex built in 1904 ; Unit mix of (3) Studios and (1) 2BD/1BA unit
- Upgrades include vinyl flooring and new water heaters ; Units 1 & 4 have a shared private patio
- 5 minute drive to the Long Beach Waterfront ; Strong in place rents with low overhead
- Situated in the prime location of North Alamitos Beach ; No local rent control
- Close proximity to retail, dining, and entertainment ; Owner collects RUBS from tenants to offset utilities ;
- New laminate floors, granite countertops, and new light fixtures.
EXECUTIVE SUMMARY
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 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.
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.
PROPERTY FACTS
| Price | $1,360,419 CAD |
| Price Per Unit | $340,105 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 12.98 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 1,548 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1904 |
UNIT AMENITIES
- Heating
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | 215 - 420 |
| 2+1 | 1 | - | 500 |
1 of 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 7266-007-001 | Improvements Assessment | $364,007 CAD |
| Land Assessment | $678,085 CAD | Total Assessment | $1,042,092 CAD |
ZONING
| Zoning Code | LBR3S |
