Pending
651 E 46th Street
Long Beach CA, 90807
$2,895,000
$287.72 per sqft
Pending
10,062 sqft
Condos
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
December 5, 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
Days on Market
19
Garage
Yes
Garage Spaces
10
Parking Total
12
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LBR3S
Listing History
Date | Event | Price |
|---|---|---|
12/5/2024 | Pending | — |
10/29/2024 | Under contract | — |
Listing Contact: 310-482-2200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. 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.
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Data last updated on 12/5/2024 at 8:12 PM UTC