$3,589,500
$296K PRICE DROP

500 E 51st St Unit 15 Long Beach, CA 90805

Addams Neighborhood

Estimated payment $22,546/month

Total Views 10,219
3 Beds
-- Bath
11,322 Sq Ft
$317 Price per Sq Ft

About This Home

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.

Listing Agent

Daniel Talamentes

VPMI, INC. Brokerage Phone: 562-665-2066 License #02021732 Listed on: 03/21/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 7,384 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 11 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 3 Bedrooms
  • 11,322 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Additional Features

  • Suburban Location
  • Floor Furnace

Listing and Financial Details

  • Tax Lot 21
  • Tax Tract Number 19618
  • Assessor Parcel Number 7130016031
  • $1,563 per year additional tax assessments

Community Details

Overview

  • 5 Buildings
  • 15 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Separate Electric Meters
  • 2 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $12,192
  • Fuel Expense $100
  • Insurance Expense $9,800
  • Professional Management Expense $9,000
  • Trash Expense $10,000
  • Water Sewer Expense $33,171
  • Operating Expense $142,000
  • Gross Income $302,223
  • Net Operating Income $146,382

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

11

Listing Details

  • Price Per Unit: 239300
  • Professional Management Expense: 9000.00
  • Property Attached: Yes
  • Subdivision Name Other: N Long Beach
  • Water Sewer Expenses: 33171.00
  • Zoning: LBR4R
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7130016031
  • Year Built: 1963
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 317.04

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 11.00
  • Total Parking Spaces: 11.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Floor Furnace
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 10000.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7384.00
  • Lot Size Acres: 0.1695

Multi Family

  • Electric Expense: 12192.00
  • Fuel Expense: 100.00
  • Gross Income: 302223.00
  • Gross Scheduled Income: 288382.00
  • Insurance Expense: 9800.00
  • Lot Size Area: 7384.0000 Square Feet
  • Net Operating Income: 146382.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 15
  • Operating Expense: 142000.00
  • Rent Control: No
  • Total Expenses: 142000.00

Tax Info

  • Tax Census Tract: 5717.04
  • Tax Lot: 21
  • Tax Tract Number: 19618
  • TaxOtherAnnualAssessmentAmount: 1563.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/15/2025 07/15/25 Price Changed $3,589,500 -7.6% $317 / Sq Ft
03/21/2025 03/21/25 For Sale $3,885,000 -- $343 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25062894

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90805 Addams

500 E 51st St Unit 15, Long Beach, CA

This home is located at 500 E 51st St Unit 15, Long Beach, CA 90805 and is currently priced at $3,589,500, approximately $317 per square foot. This property was built in 1963. 500 E 51st St Unit 15 is a home located in Los Angeles County with nearby schools including Dooley Elementary School, Jordan High School, and Oakwood Academy Elementary.

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.

California Regional Multiple Listing Service (CRMLS) 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
Listing Agent
Daniel Talamentes
Section Image
VPMI, INC.
(562) 614-4303