6082 Atlantic Avenue, Long Beach, CA 90805

$949,800 Approx. USD 0 beds, 0 baths
6,000 sqft

Agent Remarks

Rare five-unit retail building with NNN long terms leases under one million dollars. One tenant occupies two units, hence this center is 100% occupied by four tenants. Two tenants have 3% annual rent increases, one tenant has a flat 3-year lease, and one tenant has 5% annual increases. The 6.10% Cap Rate is based on ACTUAL numbers. The City of Long Beach has a beautification initiative underway for this area. This is a great opportunity to buy BEFORE the City's redevelopment is complete which will most likely increase property values. In addition, UPTOWN Business District Tenant plan to implement a $10,000 updated facade to the front exterior. Building size is 6,000 square feet on 9,340 square feet of land with eight parking spaces behind the building. There is also plenty of street parking in front of the building and on the side of the building, as the property sits on a corner which provides ample street parking. REQUEST OFFERING MEMORANDUM FROM BROKER.

Listing Details

Property type: RET (Commercial)
Status: Active Under Contract
MLS# OC16114609
List price is $949,800 Reduced by $8,200 on 8/23/2016
Beds: 0
Baths: 0
Built in 1935
6,000 sqft
0.21 acres
Lot size: 9341.000
Topography: flat
County: Los Angeles
Zoning: LBCNA
MLS area: 7 - North Long Beach

Last Updated: 9/2/2016

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This listing belongs to the 7 - North Long Beach MLS area

The listing is zoned LBCNA.
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Lat/Long: 33.865326, -118.184677.
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Broker: Courtesy of First Team Estates
Listing Agent: John Gessford

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