500 E 51st Street #15, Long Beach, CA 90805 (MLS # PW25062894)
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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.
| DAYS ON MARKET | 49 | LAST UPDATED | 3/21/2025 |
|---|---|---|---|
| TRACT | N Long Beach | YEAR BUILT | 1963 |
| COMMUNITY | Bixby, Bixby Knolls, Los Cerritos | GARAGE SPACES | 11.0 |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AREA | Bixby, Bixby Knolls, Los Cerritos |
|---|---|
| GARAGE | Yes |
| HEAT | Floor Furnace |
| LOT | 7384 sq ft |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | N Long Beach |
| WATER | Public |
| ZONING | LBR4R |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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