1651 E South St Long Beach, CA 90805
Nehyam NeighborhoodEstimated payment $8,169/month
Highlights
- Property is near park
- Rectangular Lot
- Vinyl Flooring
- Laundry Facilities
- Wood Fence
- Wall Furnace
About This Home
Exceptional Value-Add Investment Opportunity! This well-maintained 9-unit apartment property offers stable cash flow, strong rental demand, and significant upside potential in a highly desirable rental market. The property consists of a charming standalone 2-bedroom, 1-bath home at the front and a separate two-story building featuring eight studio units, with four units on each level. Six of the nine units have already been tastefully renovated, allowing a new owner to continue the renovation program and capture additional rental upside. With below-market rents, consistently low vacancy, and all units fully occupied, this asset presents an outstanding opportunity to increase income while benefiting from immediate cash flow. Ideally situated directly across from Harte Elementary School and just minutes from Lakewood Center, Long Beach Exchange, major retailers, restaurants, parks, and convenient freeway access, the property is located in a prime rental location that continues to attract long-term tenants. Whether you're looking to expand your portfolio with a turnkey investment offering immediate returns or seeking a value-add asset with long-term appreciation and income growth potential, this property checks all the boxes.
Listing Agent
Sky View Real Estate Brokerage Phone: 562-761-2777 License #01217793 Listed on: 06/12/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1954
Lot Details
- 5,378 Sq Ft Lot
- Two or More Common Walls
- Wood Fence
- Rectangular Lot
- Paved or Partially Paved Lot
- Level Lot
Home Design
- Apartment
- Entry on the 1st floor
- Cosmetic Repairs Needed
- Shingle Roof
- Composition Roof
- Stucco
Interior Spaces
- 3,480 Sq Ft Home
- 2-Story Property
- Vinyl Flooring
- Gas Range
Bedrooms and Bathrooms
- 2 Bedrooms
- 7 Bathrooms
Parking
- 4 Open Parking Spaces
- 4 Parking Spaces
- Parking Available
- Paved Parking
Location
- Property is near park
Utilities
- Wall Furnace
- Natural Gas Connected
- TV Antenna
Listing and Financial Details
- Tax Lot 143
- Tax Tract Number 7225
- Assessor Parcel Number 7123017001
- $2,083 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- 2 Buildings
- 9 Units
- North Long Beach Subdivision
Amenities
- Laundry Facilities
Building Details
- 9 Leased Units
- Rent Control
- 9 Separate Electric Meters
- 9 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $5,177
- Gardener Expense $1,820
- Insurance Expense $9,096
- Maintenance Expense $2,950
- Pest Control $468
- Water Sewer Expense $7,586
- New Taxes Expense $18,528
- Operating Expense $46,517
- Gross Income $117,840
- Net Operating Income $89,851
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $12,378 | $811,238 | $210,318 | $600,920 |
| 2024 | $11,845 | $795,333 | $206,195 | $589,138 |
| 2023 | $11,613 | $779,739 | $202,152 | $577,587 |
| 2022 | $10,927 | $764,451 | $198,189 | $566,262 |
| 2021 | $10,667 | $749,462 | $194,303 | $555,159 |
| 2020 | $10,641 | $741,778 | $192,311 | $549,467 |
| 2019 | $10,512 | $727,235 | $188,541 | $538,694 |
| 2018 | $10,223 | $712,977 | $184,845 | $528,132 |
| 2016 | $9,440 | $685,293 | $177,668 | $507,625 |
| 2015 | $9,087 | $675,000 | $175,000 | $500,000 |
| 2014 | $2,686 | $101,147 | $26,374 | $74,773 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/12/2026 06/12/26 | For Sale | $1,295,888 | -- | $372 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $675,000 | Lawyers Title |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $600,000 | Commercial | |
| Previous Owner | $506,250 | Commercial |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW26128325
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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