CA > Long Beach > Poly High (Ph)
Long Beach, CA 90805,473 E 55th ST
Long Beach, CA 90805,473 E 55th ST
Long Beach, CA 90805,473 E 55th ST
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,995,000
Est. payment /mo
6,960 Sqft Lot
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UPDATED:

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Poly High (Ph)

MLS Listing ID PW25148000

HOA Y/N No

Year Built 1962

Lot Size 6,960 Sqft

Property Sub-Type Mixed Use

Property Description

10 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6% from day 1! Large unit mix of 9 (2bed/1bath) units and 1 (1bed/1bath) unit including 2 brand-new attached ADUs. Most units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash further minimizing the operating expenses. Non-LA-City rent controlled asset allowing significant 8% annual rent increases (5%+CPI) for future upside. The property also offers on-site laundry and parking that generates additional income. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Location

State CA

County Los Angeles

Area 9 - Poly High

Zoning LBR1N

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Suburban

Total Parking Spaces 5

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7127024033

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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CRMLS – RECore
Listed by Steven Bogoyevac Steven M. Bogoyevac, Broker steve.bogoyevac@marcusmillichap.com

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