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477 E South Street, Long Beach, CA 90805
$3,597,000
477 E South Street, Long Beach, CA 90805View this property at 477 E South Street, Long Beach, CA 90805
477 E South StreetLong BeachCA90805
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Property Description
Pleased to present 477 E. South Street near the Bixby Knolls area Long Beach. The 16-unit apartment community is comprised of a desirable unit mix of all 2-Bedroom/1-Bathroom units. The building also offers tenants access to a treelined community courtyard with drought resistant landscaping. There is also a community laundry room for tenants to use. Priced under $250,000/unit the property generates cashflow to a 6.3% CAP Rate on current rents with additional upside for the prudent investor.
The community is extremely well located just off Atlantic Avenue restaurants and shops. It also offers easy access to 91, 710, and 405 freeways.
Full Property Details
Full Property Details for 477 E South St
General
- Sold For: $3,597,000
- Status: Closed
- Type: Multi-Family
- MLS ID: PW23173500
- Added to Site: 245 day(s) ago
Interior
- Fireplace(s): None
Rooms
Other Rooms
- Laundry: Common Area
Additional Information
- Pool Description: None
Parking
- Parking Features: Assigned
- Parking: Assigned
Location
- Area: 7 - North Long Beach
- County: Los Angeles
- Development Name: 7 - North Long Beach
- Driving Directions: Atlantic Ave and South Street are the major cross streets
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 17
- # Electric Meters: 17
Structural Information
- Entry Location: 1
- Square Feet: 9,840
- Year Built: 1961
Unit Information
Unit 1
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Number of Units: 3
- Total Bathrooms: 1
- Bedrooms: 2
Unit 3
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 4
- Number of Units: 5
- Total Bathrooms: 1
- Bedrooms: 2
Unit 5
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 6
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 7
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 8
- Number of Units: 2
- Total Bathrooms: 1
- Bedrooms: 2
Unit 9
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Lot Features
- Lot Size (Acres): 0.2394
- Lot Size Source: Assessor
- Zoning: LBCMR
- Lot Description: Lot 10000-19999 Sqft
Financial Considerations
- Price Per Sq. Ft.: $365.55
- Price Per Unit: 237500
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed by Morgan Skenderian, Doug Rodermund and Morgan Skenderian, Nick Gould
Sold by CB Richard Ellis, Inc., Trey Mitchell
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Schools
Schools serving 477 E South St
School District:Long Beach Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
150 W Victoria St, Long Beach, CA 90805 | PK-8 | 1 mi | |
6500 Atlantic Ave, Long Beach, CA 90805 | 9-12 | 0.8 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 477 E South St
Date
Details
Price
Change
Source
12/01/2023
Sold
$3,597,000
-5.34%
MLS
9/15/2023
Listed
$3,800,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
477 E South Street, Long Beach, CA 90805 (MLS# PW23173500) is a Multi-Family property that was sold at $3,597,000 on December 01, 2023. Want to learn more about 477 E South Street? Do you have questions about finding other Multi-Family real estate for sale in Long Beach? You can browse all Long Beach real estate or contact a Coldwell Banker agent to request more information.