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Listed by Daniel Talamentes • VPMI, INC.
$3,885,000
Est. payment /mo
7,384 Sqft Lot
Active
500 E 51st ST Long Beach, CA 90805
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25062894
Originating Board California Regional MLS
Year Built 1963
Lot Size 7,384 Sqft
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
Interior
Heating Floor Furnace
Laundry Community Facility
Exterior
Garage Spaces 11.0
Pool None
Building
Water District - Public
Others
Tax ID 7130016031
Special Listing Condition Not Applicable
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