401 E 55th St - Apartments FOR SALE


Long Beach, CA 90805- Bixby Knolls
$1,500,000 USD
949-295-8560
401 E 55th St, Long Beach, CA for Sale
$1,500,000 USD
Apartments - FOR SALE
1/8
null | 7.88% Cap Rate

401 E 55th St
Long Beach, CA 90805
Bixby Knolls


HIGHLIGHTS

  • Renovated Property Near Bixby Knolls
  • Excellent Mix of Large 1 & 2-Bedroom Units
  • Corner Location
  • Professionally-Managed
  • Possible ADU Conversion of Garages
  • 7.88% CAP on Current Rents

OVERVIEW

The Corner @ 55th offers an investor the opportunity to acquire a pride of ownership, professionally-managed property in an excellent rental market. The property has undergone numerous renovations, and contains an excellent unit mix of large 1 & 2-bedroom units. The city of Long Beach has become one of the Southland’s strongest rental markets, in part due to its central location and rapidly improving neighborhoods. It’s diverse economy includes shipping, trade, manufacturing, tourism, healthcare and education. It is home to California State University Long Beach and one of the busiest ports in the world with The Port of Long Beach.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$397 USD /SF

# OF UNITS

6

PRICE/UNIT

$250,000

CAP RATE

7.88%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,371 SF

ZONING

-

APN/PARCEL ID

7127-024-019

ASK ABOUT THIS PROPERTY

Doug RodermundMorgan-Skenderian Investment Real Estate GroupMore Info
949-295-8560

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Doug RodermundMorgan-Skenderian Investment Real Estate GroupMore Info
949-295-8560

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.