477 E South Street
Long Beach, CA 90805
Active for $4,400,000
Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 10,429 sqft
| MLS | PTP2407021 |
| Year Built | 1961 |
| Property Type | |
| County | Los Angeles |
| Status | Active |
| Active | $4,400,000 |
| Structure Size | N/A sqft |
| Lot Size | 10,429 sqft |
| Beds | N/A |
| Baths |
Description
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.
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 11/22/2024 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.
Location
Contact a Local Realtor®
Vy Nguyen
REALTOR®
Direct: 661.714.1934
Email: Email Me
DRE: 02235346
DRE #01873088
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