Seller's Agent in 2024
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
1 in this area
74 Total Sales
651 E 46th St Long Beach, CA 90807
Bixby Knolls Neighborhood
8
Beds
6
Baths
10,062
Sq Ft
0.26
Acres
Highlights
- Laundry Room
- Radiant Heating System
- 5-minute walk to Scherer Park
- Hughes Middle School Rated A-
About This Home
As of December 2024651 E. 46th Street is a 12-unit value add investment asset located in the Bixby Knolls neighborhood of Long Beach. The property offers a new investor 34% total rental upside potential for a 7.8% market cap rate. Situated on a 11,154-square-foot lot, the building features all spacious units: (9) 1BD/1BA; (1) 2BD/1BA; (1) 2BD/2BA; and (1) 3BD/2BA. Additionally, the 100% electric building includes copper plumbing throughout. Onsite laundry provides a convenient facility for tenants and an added income stream for the owner. Ten (10) garages and two (2) surface spaces offer the potential to provide additional income as well as ADU opportunities. Located within steps to Aldi and other amenities, the property is also in close proximity to Atlantic Avenue's restaurants, coffee shops and amenities. In recent years the area has become a dynamic locale for exciting new businesses. The Bixby Knolls location offers convenient proximity to both the 710 and 405 freeways, providing quick and easy access to all areas of Southern California.
Last Agent to Sell the Property
Keller Williams Realty Downey Brokerage Phone: 310-463-2916 License #01456379 Listed on: 10/09/2024
Co-Listed By
Keller Williams Realty Downey Brokerage Phone: 310-463-2916 License #01376219
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1973
Lot Details
- 0.26 Acre Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Parking
- 2 Open Parking Spaces
- 10 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 10,062 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 6 Bathrooms
Utilities
- Radiant Heating System
Listing and Financial Details
- Tax Lot 2
- Tax Tract Number 13870
- Assessor Parcel Number 7135005026
- $2,447 per year additional tax assessments
Community Details
Overview
- 12 Units
- Bixby Knolls Subdivision
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- Electric Expense $2,141
- Fuel Expense $2,140
- Gardener Expense $1,720
- Insurance Expense $12,000
- Maintenance Expense $8,400
- Other Expense $3,600
- Pest Control $900
- Professional Management Expense $11,304
- Trash Expense $2,141
- Water Sewer Expense $2,141
- New Taxes Expense $38,022
- Operating Expense $85,367
- Gross Income $226,084
- Net Operating Income $140,717
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/20/2024 12/20/24 | Sold | $2,770,000 | -4.3% | $275 / Sq Ft |
| 10/28/2024 10/28/24 | Pending | -- | -- | -- |
| 10/09/2024 10/09/24 | For Sale | $2,895,000 | -- | $288 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| 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 | $13,051 | $2,770,000 | $1,900,000 | $870,000 |
| 2024 | $13,051 | $849,819 | $339,924 | $509,895 |
| 2023 | $12,813 | $833,157 | $333,259 | $499,898 |
| 2022 | $12,084 | $816,822 | $326,725 | $490,097 |
| 2021 | $11,768 | $800,807 | $320,319 | $480,488 |
| 2019 | $11,600 | $777,057 | $310,819 | $466,238 |
| 2018 | $11,150 | $761,822 | $304,725 | $457,097 |
| 2016 | $10,225 | $732,242 | $292,893 | $439,349 |
| 2015 | $9,851 | $721,244 | $288,494 | $432,750 |
| 2014 | $9,846 | $707,117 | $282,843 | $424,274 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Stepp
-
Todd Hawke
Seller Co-Listing Agent in 2024
Todd Hawke
Keller Williams Realty Downey
(310) 774-3746
1 in this area
10 Total Sales
-
Avinash Narang
Buyer's Agent in 2024
Avinash Narang
BRC Advisors BH
(818) 288-0697
1 in this area
52 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24210020
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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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