Long Beach, CA 90805 555 E Adams Street
$2,925,000
2 more
Presented By: Doug Rodermund with Morgan Skenderian; dsr@morganskenderian.com
Beds • 16
Baths • 1
SQFT • 10,310
Year Built • 1958
Home Details
**Pride of Ownership Community Across From Jordan High School & Houghton Park**
**Priced at $182,813/Unit & $283/SF**
**9.84 GRM & 6.7% Cap Rate on Current Income**
**7.98 GRM & 9.0% Cap Rate on Market Rents**
**Easy Upside in Rental Income for a New Owner**
----555 E. Adams Street offers an investor the opportunity to acquire 16 units in the strong rental market of North Long Beach. The property sits 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 520 Adams, 540 Adams, 560 Adams & 541 E. 64th Street
Presented By: Doug Rodermund with Morgan Skenderian; dsr@morganskenderian.com
Interior Features for 555 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 555 E Adams Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.7
Carport Spaces16.0
Carport Y/NYes
CityLong Beach
Community FeaturesCurbs, Gutters, Sidewalks
CountyLos Angeles
DirectionsSouth of Artesia Blvd and West of Atlantic Ave
Electric Expense6319.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense6319.0
Garage Spaces0.0
Garage Y/NNo
Gross Income2700.0
HOANo
Home Warranty Y/NNo
Insurance Expense4445.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCashToNewLoan, Conventional, Exchange1031
Lot Size Square Feet14890.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MaintenanceExpense8360.0
MobileHomeRemainsYNNo
Net Operating Income196476.0
New ConstructionNo
Number Of Units Total16
Open Parking Spaces0.0
Operating Expense91905.0
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 Lot13
Taxes$40,583
Trash Expense6319.0
Water Sewer Expense6319.0
Waterfront Y/NNo
Year Built1958
Year Built SourceAssessor
ZoningLBR4R
Exterior for 555 E Adams Street
Building Area Total10310.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.3418
Lot Size Area14890.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters17
Number of Separate Gas Meters17
Number of Separate Water Meters1
Open Parking Y/NNo
Pool Charge3160.0
Private PoolYes
SpaNo
Total Parking16.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
Price
$2,925,000
MLS#PW25079249
List Date
04/10/2025
Property Type
Multi-Family
Phone
(310) 963-5595
