477 East South Street
$4,100,000
28
9,840
9,840
$417
Description
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....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 Jeff Kim • DRE #01959539 • Brokerage DRE #01878277 • eXp Realty of California, Inc. • Jeff@kimrealtygroup.com
- Listed by Jessica Appley • DRE #02091500 • Brokerage DRE #01878277 • eXp Realty of California, Inc.
Property Details for 477 East South Street
Parking Spaces Total
12
Private PoolNo
Total Units16.0
Building TypeAttached
Lot Size SourceAssessor
Living Area9840
Assessor Parcel Number7125-032-033
Property Attached YNtrue
LISTING UPDATED: 12/02/2024 05:44 AM
Property Details for 477 East South Street
Status | Active |
---|---|
MLS # | PTP2407021 |
Days on Market | 34 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1961 |
Lot Size | 0.24 AC / 10,429 SF |
County | Los Angeles County |
Building Information for 477 East South Street
Stories2Residences-Year Built1961Building Size-Lot Size0.24 AC / 10,429 SF
Property Information for 477 East South Street
Property History for 477 East South Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 477 East South Street
Taxable ValueLand$597,000Additions$3,000,000Total$3,597,000
Tax Record2024$47,573 ($3,964 / month)
Home Facts
Total Finished SqFt9,840 SqFtAbove Grade Finished SqFt9,840 SqFtLot Size10,429 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningLBCMRCountyLOS ANGELESAPN7125-032-033
Schools near 477 East South Street
This home is within Long Beach Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 8 | |||
Public - | 9 to 12 | |||
Charter - | 9 to 12 | |||
Charter - | 6 to 8 |
Rating | School | Distance |
---|---|---|
Powell Academy For Success PublicK to 8 | ||
Jordan High School Public9 to 12 | ||
Clear Passage Educational Center Charter9 to 12 | ||
IVA - Intellectual Virtues Academy Middle School Charter6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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