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473 E 55Th St Long Beach, CA 90805

$1,425,000 Sold Price as of 01/12/2024

15 Beds
8 Baths
6,391 Sq.Ft.

Sold

$1,425,000 Sold Price as of 01/12/2024 Refinance Your Mortgage

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Map preview of 473 E 55Th St, Long Beach, CA 90805

Property Overview: 473 E 55Th St Long Beach, CA has 15 bedrooms, 8 bathrooms, 6,391 living square feet and 6,963 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Steven Bogoyevac | BRE #01332755 | Steven M. Bogoyevac, Broker

Last checked: 10 minutes ago | Last updated: January 12th, 2024 | Source CRMLS | DOM: 3

Home details

Lot Sq. Ft: 6,963
HOA Dues: $0/mo
Year built: 1962
Garage: 6 Car
Property Type:: Mixed Use

Status: Sold
MLS#: PW23224482
City: Long Beach
County: Los Angeles
Time on Site: 156 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 8
Total # of Buildings: 1
# of Electric Meters: 8
# of Gas Meters: 8
# of Water Meters: 0

Unit Breakdown 1

# of Units: 7
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,824
Total Rent: $12,768
Pro Forma/Market Rent: $14,000

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,599
Total Rent: $1,599
Pro Forma/Market Rent: $1,650

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $172,404
Net Operating Income: $113,264
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $57,063
Electric: $0
Gas/Fuel: $0
Trash: $0
Insurance: $0
Professional Management: $0
Water/Sewer: $0

Property Details for 473 E 55Th St

Interior Features

Laundry Information

Has Laundry
Community

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 6
# of Parking Spaces: 6

Lot Information

Lot Features: Rectangular Lot
Lot Size Source: Assessor
Common Interest: None

Property Information

Common Walls: No Common Walls
Total # of Units: 8
Parcel Number: 7127024033
Year Built Source: Assessor
Entry Level: 1
Property is not Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Subdivision Name: Other (OTHR)
Other Subdivision Name: n/a
Directions: between linden and elm

Neighborhood Information

Community Features: Suburban

View more facts & features

Local Long Beach Agent

Sale History for 473 E 55Th St

Last sold for $1,425,000 on January 12th, 2024

January, 2024
Jan 12, 2024

Date

Sold

CRMLS: PW23224482

$1,425,000

Price
Dec 12, 2023

Date

Active

CRMLS: PW23224482

$1,800,000

Price
October, 2010
Oct 29, 2010

Date

Sold (Public Records)

Public Records

$144,000

Price
March, 2010
Mar 31, 2010

Date

Sold (Public Records)

Public Records

$44,000

Price

Tax History for 473 E 55Th St

Assessed Value (2020): $849,312

Year	Land Value	Improved Value	Assessed Value
2020	$351,438	$497,874	$849,312

Home Value Compared to the Market

This property vs the competition

473 E 55Th St sold on January 12, 2024 for 125% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $281.65 per/sqft which puts the price per square foot 55.44% lower than the current median sale per square foot for the city of Long Beach.

About 473 E 55Th St

Detailed summary of property

473 E 55Th St is a mixed use that recently sold in Long Beach, CA 90805. This mixed use property offered 15 bedrooms, 8 bathrooms, roughly 6,391 living square feet, and sits on an approximately 6,963 square foot lot. 473 E 55Th St was first listed on ArdentRealEstateGroup.com on December 12, 2023. The homeowner sold the property for $1,425,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 125% higher than the current median priced home. Local homes that are currently for sale include 2630 E 1St St, 701 N Fickett St and 2007 Pennsylvania Ave. While the average home in Long Beach, CA is selling in 51 days, 473 E 55Th St has a days on market of 3 days. There are currently 643 homes for sale in the Long Beach real estate market and 358 of them are single family homes while 270 of them are condos and 15 are townhomes. For more information on this home for sale at 473 E 55Th St Long Beach, CA 90805 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 473 E 55Th St

Public county record property details

Beds: 16
Baths: 8
Year built: 1962
Sq. Ft.: 6,391
Lot Size: 6,962
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 895,896
APN: 7127-024-033

The source for these homes facts are from public records.

90805 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$699,000

Median List Price/Sq.Ft.

$563

Median Sold Price

$720,000

Median Sold Price/Sq.Ft.

$564

Total Inventory

Median Sale to List Price %

101.69%

Avg Days on Market

Loan Type

Conventional (47.83%), FHA (17.39%), VA (4.35%), Cash (13.04%), Other (17.39%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.