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.
Property Details
Price:
$2,995,000
MLS #:
PW25148000
Status:
Active
Baths:
0
Address:
473 E 55th Street
Type:
Residential Income
Subtype:
Commercial/Residential
Subdivision:
Poly High PH
Neighborhood:
9polyhigh
City:
Long Beach
Listed Date:
Jul 1, 2025
State:
CA
ZIP:
90805
Lot Size:
6,963 sqft / 0.16 acres (approx)
Year Built:
1962
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Schools
Interior
Exterior
Community Features
Suburban
Garage Spaces
0.00
Lot Features
Rectangular Lot
Parking Spots
5.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address473 E 55th Street Long Beach CA
- Area9 – Poly High
- SubdivisionPoly High (PH)
- CityLong Beach
- CountyLos Angeles
- Zip Code90805
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473 E 55th Street
Long Beach, CA
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