1651 E South,Long Beach, CA 90805
Long Beach, CA 90805
Description
Exceptional Value-Add Investment Opportunity! This well-maintained 9-unit apartment property offers stable cash flow, strong rental demand, and significant upside potential in a highly desirable rental market. The property consists of a charming standalone 2-bedroom, 1-bath home at the front and a separate two-story building featuring eight studio units, with four units on each level. Six of the nine units have already been tastefully renovated, allowing a new owner to continue the renovation program and capture additional rental upside. With below-market rents, consistently low vacancy, and all units fully occupied, this asset presents an outstanding opportunity to increase income while benefiting from immediate cash flow. Ideally situated directly across from Harte Elementary School and just minutes from Lakewood Center, Long Beach Exchange, major retailers, restaurants, parks, and convenient freeway access, the property is located in a prime rental location that continues to attract long-term tenants. Whether you're looking to expand your portfolio with a turnkey investment offering immediate returns or seeking a value-add asset with long-term appreciation and income growth potential, this property checks all the boxes.
Details
| MLS # | PW26128325 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1954 |
| Days On Site | 84 |
| Listing Provided By | Sky View Real Estate | Dara Chay |
Features
| SQ Feet | 3,480 |
|---|---|
| Story(s) | 2 |
| Units | 9 |
| Building(s) | 2 |
| Acreage | 0.12 |
| Property View | None |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Appliances | Gas Range |
| Fireplace Yes / No | No |
Exterior
| Exterior Features | Tv Antenna |
|---|---|
| Roof | Composition, Shingle |
| Construction Materials | Stucco |
| Lot Features | Near Park, Paved, Rectangular Lot, Street Level |
| Fencing | Wood |
Parking
| Parking Features | Paved |
|---|---|
| Garage Yes / No | No |
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Curbs, Park |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90805 |
| Area | 7 North Long Beach |
| Community Name | North Long Beach (NLB) |
| Listing VS Median (in North Long Beach (NLB)) | |
Price: $1,295,888 low | high Med: $719,950 sqft: 3,480 low | high Med: 876 $ / sqft: $372 low | high Med: $829 On site: 84 low | high Med: 31.5 | |
Market Activity 90805
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90805 |
| Area | 7 North Long Beach |
| Community Name | North Long Beach (NLB) |
| Listing VS Median (in North Long Beach (NLB)) | |
Price: $1,295,888 low | high Med: $719,950 sqft: 3,480 low | high Med: 876 $ / sqft: $372 low | high Med: $829 On site: 84 low | high Med: 31.5 | |