1651 E South, Long Beach, CA 90805
- $1,295,888
- List Price
- $1,295,888
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- PW26128325
- Year Built
- 1954
- Lot Size
- 5,378
- Acres
- 0.12
- Lot Location
- Near Park, Paved, Rectangular Lot, Street Level
- Days on Market
- 47
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
- Neighborhood
- North Long Beach (Nlb)
Property Description
Exceptional Value-Add Investment Opportunity! This well-maintained 9-unit apartment property offers stable cash flow, strong rental demand, and significant upside potential in a highly desirable rental market. The property consists of a charming standalone 2-bedroom, 1-bath home at the front and a separate two-story building featuring eight studio units, with four units on each level. Six of the nine units have already been tastefully renovated, allowing a new owner to continue the renovation program and capture additional rental upside. With below-market rents, consistently low vacancy, and all units fully occupied, this asset presents an outstanding opportunity to increase income while benefiting from immediate cash flow. Ideally situated directly across from Harte Elementary School and just minutes from Lakewood Center, Long Beach Exchange, major retailers, restaurants, parks, and convenient freeway access, the property is located in a prime rental location that continues to attract long-term tenants. Whether you're looking to expand your portfolio with a turnkey investment offering immediate returns or seeking a value-add asset with long-term appreciation and income growth potential, this property checks all the boxes.
Additional Information
- Appliances
- Gas Range
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling Description
- None
- View
- None
- Exterior Construction
- Stucco
- Roof
- Composition, Shingle
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 9
- Gross Scheduled Income
- $117,840
- Operating Expense
- 27989
Listing courtesy of Listing Agent: Dara Chay (darachay@gmail.com) from Listing Office: Sky View Real Estate.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.