$ 2,895,000
651 E 46th Street Long Beach, CA 90807
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Listed by Robert Stepp • Keller Williams - Santa Monica
$ 2,895,000
Est. payment | /mo
10,062 SqFt
$ 2,895,000
Est. payment | /mo
10,062 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 10,062 sqft
Price per Sqft $287
MLS Listing ID CRPW24210020
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1973
Lot Size 0.256 Acres
Property Description
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.
Location
State CA
County Los Angeles
Interior
Heating Radiant
Fireplace No
Laundry Other
Building
Water Public
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Paul LeJoy
Broker-Owner | Lic# 01467744