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6064 Atlantic Ave
For Sale $3,495,000 ($501.72 per Sq Ft)
$3,495,000 ($501.72 per Sq Ft)
- 12 Units
- 6,966 Sq Ft
- 9,180 Sq Ft
- Unknown Cap Rate
Description
Huge Price Reduction! 100% Renovated 12-unit apartment building cash flowing at an amazing current 7% Cap Rate from day 1. Preliminary plans to add 8 detached ADUs to achieve a remarkable 10% Cap Rate, 7.7 GRM, and 212k/unit after taking into account all construction costs (~745k assuming $225/SF). The property features an easy to rent unit mix of 12 (1-bed/1bath) units including 4 brand-new retail to apartment conversions as well as 2-brand new attached ADUs. Turnkey opportunity where every single unit was vacated, completely renovated, and leased at market rent with additional upside by building 8 detached ADUs in the back parking lot. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. The property has undergone major capital improvements including updated electrical, plumbing, brand-new windows, interiors, exteriors, etc. The fully remodeled units boast new modern cabinets, flooring, lighting, new bathrooms, and more.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,495,000 |
| Property Type | Multi-Family |
| Usable Sqft | 6,966 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1946 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 7124016005 |
| MLS # | 25625353 |
| Property ID | 322027357 |
| Lot Sqft | 9,180 |
| Zoning | LBCNA |
| Total Units | 12 |
| Days on Market | 51 |
| Original List Price | $3,575,000 |
| Date Updated | January 15, 2026 |
| Date Created | December 03, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $2,267 | $2,267 |
| Unit #2 | 1 | 1.00 | $2,267 | $2,267 |
| Unit #3 | 1 | 1.00 | $2,267 | $2,267 |
| Unit #4 | 1 | 1.00 | $2,267 | $2,267 |
| Unit #5 | 1 | 1.00 | $2,267 | $2,267 |
| Unit #6 | 1 | 1.00 | $2,267 | $2,267 |
| Unit #7 | 1 | 1.00 | $2,267 | $2,267 |
| Unit #8 | 1 | 1.00 | $2,267 | $2,267 |
| Unit #9 | 1 | 1.00 | $2,267 | $2,267 |
| Gross Income (Yr) | $ 319,556 |
| Operating Expenses | $ 74,947 |
| Net Income (Yr) | $ 244,609 |
| Cap Rate | 7.00% |
Listing Provided By
Julio Ruiz an agent of Global Platinum Properties, Inc.. Lic #01911261
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Robert Crawford
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