651 E 46th Street, Long Beach CA, 90807

Active

651 E 46th Street

Long Beach CA, 90807

$2,895,000

$287.72 per sqft

Active

10,062 sqft

Condo

Built in 1973

Listed by Robert Stepp with Keller Williams - Santa Monica 310-463-2916

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.

PW24210020

MLSⓇ ID

October 9, 2024

Listed

October 17, 2024

Updated

Map

651 E 46th Street
Long Beach CA, 90807

Interior Features

Total Stories: 2
Laundry Description: Common Area
Fireplace: No
Cooling: No
Heating: Yes
Heating Description: Radiant

Exterior/Building Features

Lot Size: 0.26 Acres
Lot Features: 11-15 Units/Acre
Sewer: Public Sewer

Other Property Details

Area Name: 6 - Bixby, Bixby Knolls, Los Cerritos
Garage: Yes
Garage Spaces: 10
Parking Total: 12
View: No
County: Los Angeles
Water Source: Public
Pool: No
Pool Features: None
Zoning: LBR3S

Listing Contact: 310-482-2200

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 10/17/2024 at 2:13 PM UTC