$4,100,000
477 E South Street
Long Beach, CA, 90805
Property 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.
Property Details
Price:
$4,100,000
MLS #:
PTP2407021
Status:
Active
Baths:
0
Address:
477 E South Street
Type:
Residential Income
Neighborhood:
7northlongbeach
City:
Long Beach
Listed Date:
Nov 6, 2024
State:
CA
ZIP:
90805
Lot Size:
10,429 sqft / 0.24 acres (approx)
Year Built:
1961
Schools
Interior
Exterior
Community Features
Curbs, Sidewalks, Urban
Garage Spaces
0.00
Lot Features
Level
Parking Spots
12.00
Pool Features
None
Stories Total
2
Financial
Association Fee
0.00
Need more info?
If you have any questions about this property, we at the Mohr Group would be happy to answer them. Click the button below and send us a message.
Ask a QuestionReady to go see it?
Schedule a ShowingMortgage Calculator
Similar Listings Nearby
- 17432 Virginia Avenue
Bellflower, CA$5,000,000
2.88 miles away
- 9116 Palm Street
Bellflower, CA$3,795,000
2.94 miles away
Courtesy of eXp Realty of California, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Mohr Real Estate Group include the name of the listing broker. Neither the listing company nor Mohr Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved. 477 E South Street
Long Beach, CA
LIGHTBOX-IMAGES
