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.
Property Details
Price:
$3,885,000
MLS #:
PW25062894
Status:
Active
Baths:
0
Address:
500 E 51st Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
6bixbybixbyknollsloscerritos
City:
Long Beach
Listed Date:
Mar 21, 2025
State:
CA
ZIP:
90805
Lot Size:
7,384 sqft / 0.17 acres (approx)
Year Built:
1963
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Schools
Interior
Heating
Floor Furnace
Exterior
Community Features
Suburban
Garage Spaces
11.00
Lot Features
0-1 Unit/ Acre
Parking Spots
11.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address500 E 51st Street Long Beach CA
- Area6 – Bixby, Bixby Knolls, Los Cerritos
- CityLong Beach
- CountyLos Angeles
- Zip Code90805
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500 E 51st Street
Long Beach, CA
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