477 E South Street, Long Beach, CA 90805

$3,990,000

bedrooms

bathrooms

square feet

9,840

Acreage

0.23941689623507806

Open Houses

year built

1961

Full Baths

Half Baths

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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.

Location
Subdivision	-
County	Los Angeles
Elementary School	-
Middle School	-
High School	-

Exact location data not provided

Driving directions

Open houses

None scheduled.

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MLS number: PTP2407021

Listing agent: Jeff Kim #01959539

Listing broker: Exp Realty Of California, Inc. (888) 584-9427

Copyright © 2025 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. [source]

Last update: Friday, February 14 2025 at 8:43 p.m. EST

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