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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.

Features
: Radiant
2
1
: Common Area
0
: Sidewalks
Additional Information
Keller Williams - Santa Monica
0
PSTEPROB
PB20859
Robert
7135005026
: Standard
10
Two
35

Multi-Family For Sale

651 46th Street, Long Beach, California 90807

10,062 Sqft
$2,895,000
Listing ID #PW24210020
Basic Details
Status : Active under contract
DaysOnMarket : 20
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : PW24210020
Price : $2,895,000
Living Area : 10,062 Sqft
Lot Size : 11,157 Sqft
Year Built : 1973
Country : US
State : California
County : Los Angeles
City : Long Beach
Zipcode : 90807
Price Per Square Foot : $288
Subdivision : Bixby Knolls (BK)
ModificationTimestamp : 2024-10-29 15:59:47
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