477 E South Street

Long Beach, CA 90805 $410,000.00 (-9.32%) Active for $3,990,000

Overview
Map & Location
Median Values
Schools & Score
Property History
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Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 10,429 sqft

Property Facts

MLS	PTP2407021
Year Built	1961
Property Type
County	Los Angeles
Status	Active
Active	$3,990,000
Structure Size	N/A sqft
Lot Size	10,429 sqft
Beds	N/A
Baths

Description

Invest in Long Beach near Bixby Knolls 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 5.58% at 100% occupancy. One unit is currently vacant. Fourteen of 15 existing leases are month-to-month. 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, 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-use development Rhythm (under construction), and easy access to the 91, 710 and 405 freeways.

Listing information courtesy of: Jeff Kim, eXp Realty of California, Inc. 619-948-3112. *Based on information from the Association of REALTORS/Multiple Listing as of 02/18/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.