$ 2,850,000
-
$2,850,000
Price -
4
Bed -
3
Bath -
7,592
SqFt
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About the Listing PB13351 - PBOYOSTE
10 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6.25% 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.
Listing Highlights for 473 E 55th St
Status
Active
Days on Site
65
Property Type
Multi-Family
MLS ®
PW25148000
Year Built
1962
Total Square Footage
7,592
Lot/Acreage
0.16
Interior Details
- Bedrooms: 4
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Rectangular Lot,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 6
- Zoning: LBR1N
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7127024033
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
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Listing Location
Questions About..
473 E 55th St Long Beach, CA 90805
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