473 E 55th Street, Long Beach, CA 90805
Property
Sold January 2024
Listing Agent: Steven Bogoyevac (DRE #01332755) · Listing Office: Steven M. Bogoyevac, Broker · Contact: steve.bogoyevac@marcusmillichap.com · Bought with: Steven Bogoyevac · Steven M. Bogoyevac, Broker · MLS #PW23224482 · Source: CRMLS
About this property
This asset is offered at an excellent 6.29 percent cap rate on current rents with nine percent rental upside. Furthermore, a new investor may want to explore the potential of developing two ADU’s (buyer to verify). 473 East 55th Street is a 1962 construction with a desirable mix of seven two-bed/one-bath units and one one-bed/one-bath unit. The building also offers on-site laundry and garage parking. This asset is offered as part of a portfolio of Long Beach apartment buildings that range from eight to 52 units. Properties available separately or together.
Listing description from the January 2024 sale, as reported to CRMLS.
Sale history