477 E South Street, Long Beach, CA 90805
Property
Sold December 2023
Listing Agent: Doug Rodermund (DRE #01314304) · Listing Office: Morgan Skenderian · Contact: dsr@morganskenderian.com · Bought with: Trey Mitchell · CB Richard Ellis, Inc. · MLS #PW23173500 · Source: CRMLS
About this property
Pleased to present 477 E. South Street near the Bixby Knolls area Long Beach. The 16-unit apartment community is comprised of a desirable unit mix of all 2-Bedroom/1-Bathroom units. The building also offers tenants access to a treelined community courtyard with drought resistant landscaping. There is also a community laundry room for tenants to use. Priced under $250,000/unit the property generates cashflow to a 6.3% CAP Rate on current rents with additional upside for the prudent investor. The community is extremely well located just off Atlantic Avenue restaurants and shops. It also offers easy access to 91, 710, and 405 freeways.
Listing description from the December 2023 sale, as reported to CRMLS.
Sale history