Homes for sale - 473 E 55th ST, Long Beach, CA 90805

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JLee Broker

[email protected] +1(650) 857-1000

Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker

$2,925,000

Est. payment - /mo

6,963 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRPW26007076

Year Built 1962

Lot Size 6,963 Sqft

Source California Regional MLS

Property Description

10 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6% from day 1! Large unit mix of 9 (2bed/1bath) units and 1 (1bed/1bath) unit including 2 brand-new attached ADUs. Most units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash further minimizing the operating expenses. Non-LA-City rent controlled asset allowing significant 8% annual rent increases (5%+CPI) for future upside. The property also offers on-site laundry and parking that generates additional income. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Location

State CA

County Los Angeles

Area 9 - Poly High

Interior

Laundry Community Facility

Exterior

Garage Spaces 6.0

Pool None

Building

Water District - Public

Others

Tax ID 7127024033

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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473 E 55th ST Long Beach, CA 90805

JLee Broker

Key Details

Location

Interior

Exterior

Building

Others

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