CA > Long Beach
Long Beach, CA 90805,477 E South ST
Long Beach, CA 90805,477 E South ST
Long Beach, CA 90805,477 E South ST
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Ernie Caponera

Ernie Caponera

+1(714) 606-0926
$4,100,000
Est. payment /mo
10,428 Sqft Lot
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UPDATED:

12/05/2024 05:18 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2407021

HOA Y/N No

Year Built 1961

Lot Size 10,428 Sqft

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.

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Zoning LBCMR

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Curbs, Sidewalks, Urban

View Y/N No

Total Parking Spaces 12

Private Pool No

Building

Lot Description Level

Story 2

Entry Level Two

Level or Stories Two

Others

Senior Community No

Tax ID 7125032033

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Jeff Kim • eXp Realty of California, Inc. • Jeff@kimrealtygroup.com
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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

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