500 E 51St Street, #15

Long Beach, CA 90805 Active for $3,885,000

Overview
Map & Location
Median Values
Schools & Score
Property History
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Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 7,384 sqft

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Property Facts

MLS	PW25062894
Year Built	1963
Property Type	Apartment
County	Los Angeles
Status	Active
Active	$3,885,000
Structure Size	N/A sqft
Lot Size	7,384 sqft
Beds	N/A
Baths	N/A

Description

Located in the heart of Long Beach, 15 unit apartment building majority 2 bedrooms (10) and five 1 bedrooms. This building offers a prime investment opportunity with upside in rents. With a diverse pool of tenant base looking for affordable housing there's sure to be a stream of renters. There is also opportunity for additional income with garage spaces as well as potential RUBS income, one side of the building is master metered. Recent cap ex includes a new roof over the 500 side of the property and roof update to the 520 side. All new paint over the entire building. Hand Railings were reinforced on the second floor, walkways were also updated and re done. New flooring in the laundry rooms, a new 100 gallon water heater on the 500 side. And 90% of the units have vinyl plank, all recently installed. With all the work being done recently there is still opportunity for an investor to increase rent and add additional income.

Listing information courtesy of: Daniel Talamentes, VPMI, INC. . *Based on information from the Association of REALTORS/Multiple Listing as of 04/02/2025 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.