651 E 46th Street, Long Beach, CA 90807
Property
Sold December 2024
Listing Agent: Robert Stepp (DRE #01456379) · Listing Office: Keller Williams - Santa Monica · Contact: 310-463-2916 · Bought with: Avinash Narang · BRC Advisors BH · MLS #PW24210020 · Source: CRMLS
About this property
651 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.
Listing description from the December 2024 sale, as reported to CRMLS.
Sale history