Long Beach, CA 90805 520 E Adams Street
$4,800,000
3 more
Presented By: Doug Rodermund with Morgan Skenderian; dsr@morganskenderian.com
Beds • 30
Baths • 2
SQFT • 17,520
Year Built • 1959
Home Details
**Excellent Unit Mix of 1 & 2-Bedroom Units**
**Priced at $184,615/Unit & $273/SF**
**10.42 GRM & 6.5% Cap Rate on Current Income**
**7.94 GRM & 9.4% Cap Rate on Market Rents**
**Easy Upside in Rental Income for a New Owner**
**Ideal Rental Location on Residential Street in North Long Beach**
----520 E. Adams Street offers an investor the opportunity to acquire 26 units in the strong rental market of North Long Beach. The property sits on a residential street across the street from Jordan High School and Houghton Park, and has easy access to the 91 & 710 Freeways. Residents enjoy a community pool, covered parking, gated access and an on-site laundry room.
--------Also for sale are neighboring properties of 540 Adams, 555 Adams, 560 Adams & 541 E. 64th Street
Presented By: Doug Rodermund with Morgan Skenderian; dsr@morganskenderian.com
Interior Features for 520 E Adams Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 520 E Adams Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.5
Carport Spaces26.0
Carport Y/NYes
CityLong Beach
Community FeaturesCurbs, Gutters, Sidewalks
CountyLos Angeles
DirectionsSouth of Artesia Blvd and West of Atlantic Ave
Electric Expense9299.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense9299.0
Garage Spaces0.0
Garage Y/NNo
Gross Income3600.0
HOANo
Home Warranty Y/NNo
Insurance Expense6724.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCashToNewLoan, Conventional, Exchange1031
Lot Size Square Feet26464.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MaintenanceExpense14178.0
MobileHomeRemainsYNNo
Net Operating Income309972.0
New ConstructionNo
Number Of Units Total26
Operating Expense136992.0
Pool FeaturesFenced, InGround, Private
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot7
Taxes$64,903
Total Actual Rent38099.0
Trash Expense9299.0
Water Sewer Expense9299.0
Waterfront Y/NNo
Year Built1959
Year Built SourceAssessor
ZoningLBR4R
Exterior for 520 E Adams Street
Building Area Total17520.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.6075
Lot Size Area26464.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters27
Number of Separate Gas Meters27
Number of Separate Water Meters1
Open Parking Y/NNo
Pool Charge3420.0
Private PoolYes
SpaNo
Total Parking26.0
Water SourcePublic
Additional Details
Price History
Justin Hughey
Price
$4,800,000
MLS#PW25079143
List Date
04/10/2025
Property Type
Multi-Family
Phone
(562) 818-1655
