651 E 46th ST new Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90807
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 10,062 sqft
Price per Sqft $287
Subdivision Bixby Knolls (Bk)
MLS Listing ID PW24210020
HOA Y/N No
Year Built 1973
Lot Size 0.256 Acres
Acres 0.2561
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
Area 6 - Bixby, Bixby Knolls, Los Cerritos
Zoning LBR3S
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Radiant
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 10.0
Garage Description 10.0
Pool None
Community Features Sidewalks
Total Parking Spaces 12
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7135005026
Energy Description 2140.0
Acceptable Financing Cash,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to New Loan,1031 Exchange
Special Listing Condition Standard