About 477 E South Street
Invest in Long Beach near Bixby Knolls 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 5.58% at 100% occupancy. One unit is currently vacant. Fourteen of 15 existing leases are month-to-month. 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, 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-use development Rhythm (under construction), and easy access to the 91, 710 and 405 freeways.
Features of 477 E South Street
| MLS® # | PTP2407021 |
|---|---|
| Price | $3,990,000 |
| Bedrooms | 8 |
| Bathrooms | 4.00 |
| Acres | 0.24 |
| Type | Residential Income |
| Sub-Type | Res Income 2-4 Units |
| Status | Active |
Community Information
| Address | 477 E South Street |
|---|---|
| Area | LONG BEACH (90805) |
| Subdivision | Long Beach |
| City | Long Beach |
| County | Los Angeles |
| State | CA |
| Zip Code | 90805 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
| Pool | N/K |
Interior
| Fireplace | Yes |
|---|---|
| Stories | 2 Story |
Exterior
| Lot Description | Curbs,Sidewalks |
|---|
Additional Information
| Date Listed | November 6th, 2024 |
|---|---|
| Days on Market | 236 |
| Zoning | Assessor |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | eXp Realty of California, Inc. |
|---|