CA > Long Beach
Long Beach, CA 90805,500 E 51st Street
Long Beach, CA 90805,500 E 51st Street
Long Beach, CA 90805,500 E 51st Street
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$3,885,000
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3 Beds
7,384 Sqft Lot
Active

500 E 51st Street Long Beach, CA 90805

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Richard Combs

Richard Combs

+1(619) 838-9307

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW25062894

Bedrooms 3

HOA Y/N No

Lot Size 7,384 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

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.
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.

Location

State CA

County Los Angeles

Area Long Beach (90805)

Zoning Public Rec

Interior

Appliance Floor Furnace

Building

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 2 Story

Others

Monthly Total Fees $130

Acceptable Financing Exchange

Space Rent $19,533

Listing Terms Exchange

San Diego Regional MLS (SDMLS)
Listed by Daniel Talamentes • VPMI, INC.

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agent

Richard Combs

Broker | License ID: 01526804

+1(619) 838-9307

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500 E 51st Street

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