Long Beach, CA 90805 500 E 51st Street 15
$3,885,000
23 more
Presented By: Daniel Talamentes with VPMI, INC.; 562-665-2066
Beds • 25
Baths • 15
SQFT • 11,322
Garage • 11
Year Built • 1963
Home Details
Located in the heart of Long Beach, 15 unit apartment building majority 2 bedrooms (10) and five 1 bedrooms. This building offers a prime investment opportunity with upside in rents. With a diverse pool of tenant base looking for affordable housing there's sure to be a stream of renters. There is also opportunity for additional income with garage spaces as well as potential RUBS income, one side of the building is master metered. Recent cap ex includes a new roof over the 500 side of the property and roof update to the 520 side. All new paint over the entire building. Hand Railings were reinforced on the second floor, walkways were also updated and re done. New flooring in the laundry rooms, a new 100 gallon water heater on the 500 side. And 90% of the units have vinyl plank, all recently installed. With all the work being done recently there is still opportunity for an investor to increase rent and add additional income.
Presented By: Daniel Talamentes with VPMI, INC.; 562-665-2066
Interior Features for 500 E 51st Street 15
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 500 E 51st Street 15
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Carport Y/NNo
CityLong Beach
Community FeaturesSuburban
CountyLos Angeles
DirectionsOff of Atlantic
Electric Expense12192.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense100.0
Garage Spaces11.0
Garage Y/NYes
Gross Income302223.0
HOANo
HeatingFloorFurnace
Home Warranty Y/NNo
Insurance Expense9800.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsExchange1031
Lot Size Square Feet7384.0
Lot Size UnitsSquareFeet
MLS Area6 - Bixby, Bixby Knolls, Los Cerritos
MobileHomeRemainsYNNo
Net Operating Income146382.0
New ConstructionNo
Number Of Units Total15
Operating Expense142000.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameN Long Beach
Tax Lot21
Trash Expense10000.0
Unit Number15
Water Sewer Expense33171.0
Waterfront Y/NNo
Year Built1963
Year Built SourcePublicRecords
ZoningLBR4R
Exterior for 500 E 51st Street 15
Building Area Total11322.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1695
Lot Size Area7384.0
Lot Size SourceAssessor
Number of Buildings5
Number of Separate Electric Meters8
Number of Separate Gas Meters2
Number of Separate Water Meters2
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking11.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
Price
$3,885,000
MLS#PW25062894
List Date
03/21/2025
Property Type
Multi-Family
Phone
(310) 963-5595
