711 E 6th St 12 Unit Apartment Building $2,000,000 ($166,667/Unit) 6.64% Cap Rate Long Beach, CA 90802

711 E 6th St is a twelve-unit studio multifamily investment offered at $2,000,000 ($166,667/unit | $396.83/SF) in Long Beach, positioned as a stabilized cash-flow opportunity in an established, renter-focused submarket where consistent occupancy and modest acquisition metrics remain attractive for income-focused investors seeking immediate NOI generation. Built in 1953 on an 8,064 SF lot, the property features twelve studio residences, each averaging 420 SF across 5,040 SF of building area. Currently, ten units are occupied and generating $18,090 in monthly rent from close of escrow at a 6.64% in-place cap rate. Rents average $1,507.50 per occupied unit against market rents of $1,525 — a minimal 1.17% discount. Two units (Units 04 and 07) are positioned at market rent and ready to lease with zero capital expenditure required. This near-market positioning, combined with high occupancy and one of Long Beach's highest walk scores on 6th Street, creates a straightforward path to pro forma income through uncomplicated unit turnover with no renovation or capital improvement required. Subject to the Long Beach Rent Stabilization Ordinance, the incoming owner captures rent increases at each vacancy. At full occupancy with the two vacant units leased at market rate, NOI grows from $132,860 to $135,488, delivering a 6.77% pro forma cap rate and a 9.11 GRM. The property's separately metered utilities shift costs to residents, keeping pro forma expenses at just 38.45% of EGI — a lean operating profile. With zero parking obligation and a disciplined operational footprint, the asset is well-positioned as a day-one cash-flow investment with strong fundamentals in a supply-constrained rental submarket.