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.
For sale
Listing Provided by:
Jeff Kim DRE #01959539 Jeff@kimrealtygroup.com,
eXp Realty of California, Inc.,
Jessica Appley DRE #02091500 619-450-1879,
eXp Realty of California, Inc.
$3,990,000
477 E South St, Long Beach, CA 90805
--beds
--baths
9,840sqft
Est.:
Multi Family
Built in 1961
-- sqft lot
$-- Zestimate®
$405/sqft
$-- HOA
What's special
Updated plumbingUpgraded bathrooms
- 160 days
- on Zillow |
- 60 |
- 2 |
Zillow last checked: 7 hours ago
Listing updated: February 14, 2025 at 01:19pm
Listing Provided by:
Jeff Kim DRE #01959539 Jeff@kimrealtygroup.com,
eXp Realty of California, Inc.,
Jessica Appley DRE #02091500 619-450-1879,
eXp Realty of California, Inc.
Source: CRMLS,MLS#: PTP2407021
Originating MLS: California Regional MLS (North San Diego County & Pacific Southwest AORs)

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Facts & features
Interior
Appliances
- Laundry: Common Area
Features
- Has fireplace: No
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 9,840
- Total interior livable area: 9,840 sqft
Property
Parking
- Total spaces: 12
- Uncovered spaces: 12
Features
- Levels: Two
- Stories: 2
- Entry location: Ground floor
- Pool features: None
Lot
- Size: 10,429 Square Feet
- Features: Level
Details
- Parcel number: 7125032033
- Zoning: LBCMR
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- Year built: 1961
Community & HOA
Community
- Features: Curbs, Sidewalks, Urban
Location
- Region: Long Beach
Financial & listing details
- Price per square foot: $405/sqft
- Date on market: 11/14/2024
- Listing terms: Cash,Conventional
- Total actual rent: 26228
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