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Listed by Daniel Talamentes • VPMI, INC.
$3,885,000
Est. payment /mo
11,322 SqFt
Active
500 E 51st Street Long Beach, CA 90805
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,322 sqft
Price per Sqft $343
MLS Listing ID CRPW25062894
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1963
Lot Size 7,384 Sqft
Property Sub-Type Other
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
Interior
Heating Floor Furnace
Fireplace No
Laundry Community Facility
Building
Water Public
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