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477 South Street, Long Beach, CA 90805
Priced at Only: $4,100,000
For more Information Call Mobile: 714.478.6676
Address: 477 South Street, Long Beach, CA 90805
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477 South Street
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Virtual Tour
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  • MLS#: PTP2407021 ( )
  • Street Address: 477 South Street
  • Viewed: 9
  • Price: $4,100,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1961
  • Bldg sqft: 0
  • Days On Market: 49
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90805
  • Provided by: eXp Realty of California, Inc.
  • Contact: Jeff Jeff
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Invest innorthLong 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 kitchenfinishes. Two of these five units also feature upgraded bathrooms and lightingthroughout. 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 AtlanticAvenue restaurants and shops, the new KB Homes mixed used development Rhythm (under construction), and easy access to the 91, 710 and 405 freeways.
Features
Assessments
  1. Special Assessments
Association Fee
  1. 0.00
Building Area Total
  1. 9840.00
Common Walls
  1. 2+ Common Walls
Entry Location
  1. Ground floor
Garage Spaces
  1. 0.00
Gardner Expense
  1. 1740.00
Insurance Expense
  1. 5757.00
Laundry Features
  1. Common Area
Laundry Income
  1. 905.00
Levels
  1. Two
Lot Features
  1. Level
Netoperatingincome
  1. 197802.00
Newtaxesexpense
  1. 56997.00
Number Of Separate Electric Meters
  1. 16
Number Of Separate Gas Meters
  1. 16
Parcel Number
  1. 7125032033
Pool Features
  1. None
Professionalmanagementexpense
  1. 20136.00
Sourcesystemkey
  1. 400081324:CRP
Taxblock
  1. 18
Totalactualrent
  1. 26228.00
Totalexpenses
  1. 106260.00
Trash Expense
  1. 600.00
Uncovered Spaces
  1. 12.00
Virtual Tour Url
  1. https://www.propertypanorama.com/instaview/crmls/PTP2407021
Water Sewer Expense
  1. 3576.00
Year Built
  1. 1961
Year Built Source
  1. Assessor
Zoning
  1. LBCMR
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Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Mobile: 714.478.6676
  5. Fax: 714.975.9953
  6. salesbyxavier@gmail.com
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