500 East 51st Street Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90805
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 11,322 sqft
Price per Sqft $317
MLS Listing ID PW-25062894
Year Built 1963
Lot Size 7,384 Sqft
Property Sub-Type Apartment
Property Description
Located in the heart of Long Beach, 15 unit apartment building majority 2 bedrooms (10) and five 1 bedrooms. This building offers a prime investment opportunity with upside in rents. With a diverse pool of tenant base looking for affordable housing there's sure to be a stream of renters. There is also opportunity for additional income with garage spaces as well as potential RUBS income, one side of the building is master metered. Recent cap ex includes a new roof over the 500 side of the property and roof update to the 520 side. All new paint over the entire building. Hand Railings were reinforced on the second floor, walkways were also updated and re done. New flooring in the laundry rooms, a new 100 gallon water heater on the 500 side. And 90% of the units have vinyl plank, all recently installed. With all the work being done recently there is still opportunity for an investor to increase rent and add additional income.
Location
State CA
County Los Angeles
Area 6 - Bixby, Bixby Knolls, Los Cerritos
Zoning LBR4R
Interior
Heating Floor Furnace
Laundry Community
Exterior
Garage Spaces 11.0
Pool None
Community Features Suburban
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer