463 W. 6th Street is a well-located, 8-unit apartment asset in the heart of Downtown Long Beach. Priced at a 6.00% cap rate and a 10.49 GRM based on current rents, the property offers strong in-place income with additional upside potential. The well-maintained building features new exterior paint… Read More and a refreshed entry awning. The unit mix includes (2) 1-bed/1-bath units and (6) studio units, all of which offer hardwood flooring and upgraded kitchens and bathrooms. Additional highlights include upgraded electrical systems and desirable 1920s architectural detailing. Ideally situated in Downtown Long Beach, the property boasts a Walk Score of 89—“Very Walkable”—with most daily errands easily accomplished on foot. The property also offers convenient access to the 710 Freeway, providing seamless connectivity throughout Long Beach and the greater Los Angeles area. Read Less
Property listed by Keller Williams Realty Downey, Robert Stepp 310-463-2916
Listing Snapshot
Days Online
12
Last Updated
Property Type
Apartment
Lot Size
0.06 Acres
Year Built
1923
MLS Number
PW25164387
30 Days Snapshot Of 90802
$637k
+6%
(avg) sold price
27
-28%
homes sold
101
-6%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1923, Building area total: 4,001, Levels: Two, 2 stories, 1 building, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Sidewalks
Expenses
Electric expense: $735, Fuel expense: $735, Insurance expense: $8,000, Licenses expense: $1,500, Maintenance expense: $5,600, New taxes expense: $22,463, Operating expense: $53,115, Trash expense: $736, Water sewer expense: $736, Other expense: $2,400
Income
Gross income: $152,600, Net operating income: $99,485
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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