477 E South St Long Beach, CA 90805
DeForest Park NeighborhoodEstimated payment $26,027/month
Total Views
11,326
20
Beds
10
Baths
9,840
Sq Ft
$405
Price per Sq Ft
Highlights
- No HOA
- Level Lot
- No Heating
- Laundry Room
About This Home
Invest in Long Beach near Bixby Knolls and own this updated 16-unit apartment community. Composed of a desirable unit mix of all 2-bed, 1-bath units across two buildings with a courtyard in between, this property boasts a scheduled CAP rate of 5.58% at 100% occupancy. One unit is currently vacant. Fourteen of 15 existing leases are month-to-month. Five of the 16 units are newly renovated (2024) with updated plumbing, paint, flooring and kitchen finishes. Two of these five units also feature upgraded bathrooms and lighting throughout. More 2024 building updates include all new electrical panels, and new water lines to 8 of the 16 units. A community laundry room provides additional income. This apartment building is located near Atlantic Avenue restaurants and shops, the new KB Homes mixed-use development Rhythm (under construction), and easy access to the 91, 710 and 405 freeways.
Listing Agent
eXp Realty of California, Inc. Brokerage Email: Jeff@kimrealtygroup.com License #01959539 Listed on: 11/14/2024
Co-Listing Agent
eXp Realty of California, Inc. Brokerage Email: Jeff@kimrealtygroup.com License #02091500
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1961
Lot Details
- 10,429 Sq Ft Lot
- Two or More Common Walls
- Level Lot
Home Design
- Property Attached
Interior Spaces
- 9,840 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 20 Bedrooms
- 10 Bathrooms
Parking
- 12 Open Parking Spaces
- 12 Parking Spaces
Additional Features
- Urban Location
- No Heating
Listing and Financial Details
- Legal Lot and Block 44 / 18
- Tax Tract Number 5992
- Assessor Parcel Number 7125032033
- $2,877 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 16 Units
Amenities
- Laundry Facilities
Building Details
- 13 Leased Units
- 16 Separate Electric Meters
- 16 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,740
- Insurance Expense $6,260
- Professional Management Expense $17,701
- Trash Expense $256
- Water Sewer Expense $3,909
- New Taxes Expense $56,997
- Operating Expense $120,910
- Gross Income $302,885
- Net Operating Income $181,975
Map
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/14/2025 02/14/25 | Price Changed | $3,990,000 | -2.7% | $405 / Sq Ft |
| 11/26/2024 11/26/24 | Price Changed | $4,100,000 | -6.8% | $417 / Sq Ft |
| 11/14/2024 11/14/24 | For Sale | $4,400,000 | 0.0% | $447 / Sq Ft |
| 10/08/2024 10/08/24 | Off Market | $1,895 | -- | -- |
| 09/03/2024 09/03/24 | For Rent | $1,895 | 0.0% | -- |
| 12/01/2023 12/01/23 | Sold | $3,597,000 | -5.3% | $366 / Sq Ft |
| 09/20/2023 09/20/23 | Pending | -- | -- | -- |
| 09/15/2023 09/15/23 | For Sale | $3,800,000 | -- | $386 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Similar Homes in the area
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PTP2407021
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
Nearby Homes
- 5864 Linden Ave Unit 5
- 5863 Linden Ave
- 5860 Linden Ave Unit 4
- 5868 Linden Ave Unit 4
- 5868 Linden Ave Unit 2
- 5880 Linden Ave Unit 3
- 325 E 59th St
- 5608 Lime Ave Unit 3
- 5536 Linden Ave
- 5960 Lime Ave
- 237 E 57th St
- 473 E 55th St
- 489 E 55th St
- 195 E Hullett St
- 5886 Myrtle Ave
- 6014 Lime Ave
- 456 E 61st St
- 5901 California Ave
- 6064 Atlantic Ave
- 328 E 55th St
- 466 E 60th St
- 5541 Linden Ave Unit D
- 5686 Olive Ave
- 439 E 55th St
- 5886 Myrtle Ave
- 5476 Linden Ave Unit 6
- 5476 Linden Ave Unit 1
- 5649 Lewis Ave
- 5471 Olive Ave Unit REAR HOUSE
- 150 E 57th St Unit 3
- 5411 Myrtle Ave Unit 6
- 5852 Orange Ave Unit 3
- 81 E Market St Unit 81 E. Market St.
- 1337 E South St Unit 1337
- 1438 E 59th St
- 5555 N Long Beach Blvd
- 6479 Atlantic Ave
- 1068 E Artesia Blvd
- 659 E Penfold St
- 257 E Marker St Unit A