651 E 46Th Street

Long Beach, CA 90807 Active Under Contract for $2,895,000

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: 11,157 sqft

Property Facts

MLS	PW24210020
Year Built	1973
Property Type	Apartment
County	Los Angeles
Status	Active Under Contract
Active Under Contract	$2,895,000
Structure Size	N/A sqft
Lot Size	11,157 sqft
Beds	N/A
Baths	N/A

Description

651 E. 46th Street is a 12-unit value add investment asset located in the Bixby Knolls neighborhood of Long Beach. The property offers a new investor 34% total rental upside potential for a 7.8% market cap rate. Situated on a 11,154-square-foot lot, the building features all spacious units: (9) 1BD/1BA; (1) 2BD/1BA; (1) 2BD/2BA; and (1) 3BD/2BA. Additionally, the 100% electric building includes copper plumbing throughout. Onsite laundry provides a convenient facility for tenants and an added income stream for the owner. Ten (10) garages and two (2) surface spaces offer the potential to provide additional income as well as ADU opportunities. Located within steps to Aldi and other amenities, the property is also in close proximity to Atlantic Avenue's restaurants, coffee shops and amenities. In recent years the area has become a dynamic locale for exciting new businesses. The Bixby Knolls location offers convenient proximity to both the 710 and 405 freeways, providing quick and easy access to all areas of Southern California.

Listing information courtesy of: Robert Stepp, Keller Williams - Santa Monica 310-774-3740. *Based on information from the Association of REALTORS/Multiple Listing as of 11/23/2024 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.