477 E South Street, Long Beach, CA 90805 - Berkshire Hathaway HomeServices California Properties

477 E South Street, Long Beach, CA 90805

$3,990,000 Approx. USD 0 beds, 0 baths

Listing Agent


Jeff Kim | Jeff@kimrealtygroup.com
Lic#: 01959539
Broker: Courtesy of eXp Realty of California, Inc.

Co Listing Agent


Jessica Appley | jessica@realtynational.com
Lic#: 02091500
Broker: Courtesy of eXp Realty of California, Inc.

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# PTP2407021
List price is $3,990,000 Reduced by $110,000 on 2/14/2025
Price: $3,990,000
HOA Fee is $0.00
Beds: 0
Baths: 0
Built in 1961
2 stories
0.24 acres
Lot size: 0.2394
County: Los Angeles
Zoning: LBCMR
Lot description: Level
MLS area: 7 - North Long Beach

Last Updated: 2/14/2025

 Days On Market (DOM): 149

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This listing belongs to the 7 - North Long Beach MLS area

Lat/Long: 33.860324, -118.186673.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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