477 E SOUTH STREET, LONG BEACH CA 90805
- 9,840 sq.ft.
- 10,429 sq.ft. lot
Property Description
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.
Listing Courtesy of Jeff Kim, eXp Realty of California, Inc.
Exterior Features
Use of this site means you agree to the Terms of Use
Based on information from California Regional Multiple Listing Service, Inc. as of February 14, 2025. 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.
