Bought with Steven Bogoyevac • Steven M. Bogoyevac, Broker
$1,425,000
$1,800,000
20.8%For more information regarding the value of a property, please contact us for a free consultation.
6,391 SqFt
SOLD DATE : 01/12/2024
Key Details
Sold Price $1,425,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 6,391 sqft
Price per Sqft $222
MLS Listing ID CRPW23224482
Sold Date 01/12/24
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1962
Lot Size 6,963 Sqft
Property Sub-Type Other
Property Description
This asset is offered at an excellent 6.29 percent cap rate on current rents with nine percent rental upside. Furthermore, a new investor may want to explore the potential of developing two ADU’s (buyer to verify). 473 East 55th Street is a 1962 construction with a desirable mix of seven two-bed/one-bath units and one one-bed/one-bath unit. The building also offers on-site laundry and garage parking. This asset is offered as part of a portfolio of Long Beach apartment buildings that range from eight to 52 units. Properties available separately or together.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Community Facility
Building
Lot Description Other
Water Public
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