473 E 55th St Long Beach, CA 90805
Dairy NeighborhoodEstimated payment $18,296/month
About This Home
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.
Listing Agent
Steven M. Bogoyevac, Broker Brokerage Email: steve.bogoyevac@marcusmillichap.com License #01332755 Listed on: 10/14/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1962
Lot Details
- 6,963 Sq Ft Lot
- No Common Walls
- Rectangular Lot
Home Design
- Entry on the 1st floor
Interior Spaces
- 7,592 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Bathrooms
Parking
- 6 Open Parking Spaces
- 6 Parking Spaces
Location
- Suburban Location
Listing and Financial Details
- Tax Lot 896
- Tax Tract Number 5134
- Assessor Parcel Number 7127024033
- $1,611 per year additional tax assessments
Community Details
Overview
- 10 Units
- Poly High Subdivision
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 10 Separate Electric Meters
- 10 Separate Gas Meters
- Operating Expense $239,406
- Gross Income $242,410
- Net Operating Income $176,717
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/14/2025 10/14/25 | For Sale | $2,925,000 | +105.3% | $385 / Sq Ft | |
| 01/12/2024 01/12/24 | Sold | $1,425,000 | -20.8% | $223 / Sq Ft | View Prior Sale |
| 12/15/2023 12/15/23 | Pending | -- | -- | -- | |
| 12/12/2023 12/12/23 | For Sale | $1,800,000 | -- | $282 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW25239544
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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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