711 E 6th St, Long Beach, CA 90813

Property Overview

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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.

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Key Property Details

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• Address: 711 E 6th St, Long Beach, CA 90813
• Units: 12
• Unit Mix: (12) Studio
• Rent Control: Subject to Long Beach RSO
• Occupancy: 83% (10/12 Units)

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Investment Highlights

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• Immediate Cash Flow From Day One — No Lease-Up Risk: All ten occupied units are currently generating immediate $18,090/month income from close of escrow at a 6.64% current cap rate. No speculative lease-up timeline; cash flow covers debt service and operations from day one while the property executes straightforward lease-up of two market-ready vacant units at no capital expense.
• Two Market-Ready Vacant Units — Zero Capex, $7,200 Annual NOI Growth: Units 04 and 07 are positioned at market rent ($1,525/month) with no renovation or capital expenditure needed to lease them. The two vacancies represent $7,200 in annualized incremental NOI, captured purely through straightforward leasing execution in a supply-constrained rental market with proven tenant demand. This is execution upside, not speculative upside.
• Lean Operating Profile With Strong Efficiency Metrics: Per-unit annual operating expense of just $7,043 across twelve units, underpinned by economical utility, maintenance, and administrative costs. At 38.45% expense-to-EGI ratio, the property is operationally tight and produces strong cash flow relative to total income — no operational bloat, no rehab, no elevated management overhead.
• Constrained Supply Environment + High Walk Score = Occupancy Stability: Long Beach's zoning constraints and limited new multifamily entitlements ensure existing rental inventory remains well-occupied with minimal concessions. Positioned on one of Long Beach's highest-walkability corridors with retail, food service, employment centers, and transit infrastructure within a 10-minute walk, 711 E 6th St benefits from durable tenant demand and minimal vacancy risk.

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Neighborhood and Accessibility

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711 E 6th St sits in an established residential corridor near Long Beach's downtown core, within walking distance to retail, food service, and neighborhood services that define everyday livability. The area draws working renters and students seeking affordable studio housing in close proximity to employment centers, public transit, and urban amenities without premium neighborhood pricing.

The property benefits from immediate access to the Long Beach Transit system and the 405/710 freeway corridors, positioning residents within 15–20 minutes of job clusters across greater Los Angeles — from downtown LA employment to port and logistics facilities south. More importantly, 711 E 6th St sits on one of Long Beach's highest-walkability corridors. Retail, food service, employment centers, and transit infrastructure cluster within a 10-minute walk — the kind of everyday convenience that keeps tenants in place. High walk score drives high occupancy.

Long Beach's zoning constraints and limited new multifamily entitlements ensure existing rental inventory remains well-occupied with minimal concessions, supporting consistent rent growth, durable tenant demand, and predictable long-term asset appreciation for stabilized operators. For investors, this translates to a proven rental submarket where housing affordability meets supply-constrained development — creating a reliable income asset with stable occupancy and long-term appreciation potential.

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For more information and to schedule a viewing, please contact:

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Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl