477 E South Street
Long Beach, CA 90805
- – beds
- – baths
- – sqft
- 10,429 sqft lot
- 1961 build
- – on site
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.
Listed By CRMLS_CA / Jeff Kim / eXp Realty of California, Inc. / Jeff@kimrealtygroup.com
Last checked:
Checking…
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Last updated Dec 2, 2024
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MLS# PTP2407021 —
The Building
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Year Built:1961
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Year Built Source:Assessor
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Building Area Total:9840.00
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Building Area Units:Square Feet
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Total Number Of Units:16
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# of Buildings:2
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:16
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# of Separate Water Meters:1
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# of Separate Electric Meters:16
Interior
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Levels:Two
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Entry Location:Ground floor
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Fireplace:No
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Laundry:Common Area
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Laundry:1
Location
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Directions:Nearest cross St is Linden Avenue
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Latitude:33.86032400
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Longitude:-118.18667300
The Property
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Property Type:Residential Income
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Zoning:LBCMR
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Lot Features:Level
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Lot Size Area:10429.0000
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Lot Size Acres:0.2394
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Lot Size SqFt:10429.00
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Lot Size Source:Assessor
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Fence:No
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Property Attached:1
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:18
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Tax Tract:5992
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Tax Lot:44
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7125032033
Heating & Cooling
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Cooling:No
Appliances
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Included:No
The Community
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Neighborhood:Long Beach
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Features:Curbs, Sidewalks, Urban
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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Assessments:Yes
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Assessments:Special Assessments
Parking
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Parking:No
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Parking Spaces:12.00
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Uncovered Spaces:12.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
11/26/24
Nov 26, 2024
|
Price Changed | CRMLS_CA | $4,100,000 | -6.8% |
11/14/24
Nov 14, 2024
|
Listed / Active | CRMLS_CA | $4,400,000 | 22.3% |
12/1/23
Dec 1, 2023
|
CRMLS_CA | $3,597,000 | -5.3% |