$1,800,000 - 473 55th Street, Long Beach

  • 3Beds
  • 2Baths
  • 0SQ. Feet
  • 0.16Acres

This asset is offered at an excellent 6.29 percent cap rate on current rents with nine percent rental upside. Furthermore, a new investor may want to explore the potential of developing two ADU’s (buyer to verify). 473 East 55th Street is a 1962 construction with a desirable mix of seven two-bed/one-bath units and one one-bed/one-bath unit. The building also offers on-site laundry and garage parking. This asset is offered as part of a portfolio of Long Beach apartment buildings that range from eight to 52 units. Properties available separately or together.

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Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:PW23224482
  • Price:$1,800,000
  • Bedrooms:3
  • Bathrooms:2.00
  • Acres:0.16
  • Year Built:1962
  • Type:Residential Income
  • Sub-Type:Mixed Use
  • Status:Closed
  • Listing Agent:Steven Bogoyevac
  • Listing Office:Steven M. Bogoyevac, Broker

Community Information

  • Address:473 55th Street
  • Area:7 - North Long Beach
  • Subdivision:n/a
  • City:Long Beach
  • County:Los Angeles
  • Zip Code:90805

Amenities

  • Parking Spaces:6
  • # of Garages:6
  • Pool:None

Interior

  • # of Stories:2

Exterior

  • Lot Description:Rectangular Lot

Additional Information

  • Date Listed:December 11th, 2023
  • Days on Market:3
  • Zoning:LBR1N

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Based on information from California Regional Multiple Listing Service, Inc. as of May 18th, 2024 at 7:55pm CDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.