Active
477 E South Street
Long Beach CA, 90805
$4,100,000
$416.67 per sqft
Active
9,840 sqft
Residential
Built in 1961
Listed by Jeff Kim with eXp Realty of California, Inc. [email protected]
Invest in north Long Beach and own this updated 16-unit apartment community. Composed of a desirable unit mix of all 2-bed, 1-bath units across two buildings with a courtyard in between, this property boasts a scheduled CAP rate of 5.05% at 100% occupancy, and significant rent upside. Two units are vacant and ready for market-rent tenants, and all existing tenants are on month-to-month leases. Five of the 16 units are newly renovated (2024) with updated plumbing, paint, flooring and kitchen finishes. Two of these five units also feature upgraded bathrooms and lighting throughout. More 2024 building updates include all new electrical panels (main and subs), and new water lines to 8 of the 16 units. A community laundry room provides additional income. This apartment building is located near Atlantic Avenue restaurants and shops, the new KB Homes mixed used development Rhythm (under construction), and easy access to the 91, 710 and 405 freeways.
PTP2407021
MLSⓇ ID
November 14, 2024
Listed
December 5, 2024
Updated
Map
477 E South Street
Long Beach CA, 90805
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.24 Acres
Lot Features
Level
Other Property Details
Area Name
7 - North Long Beach
Days on Market
20
Garage
No
Parking Total
12
View
No
County
Los Angeles
Pool
No
Pool Features
None
Zoning
LBCMR
Listing History
Date | Event | Price |
|---|---|---|
11/26/2024 | Price change | $4,100,000 -7% |
Listing Contact: 888-584-9427
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 12/5/2024 at 12:15 PM UTC