473 E 55th Street, Long Beach, CA — listing photo 1
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FOR SALENew Listing

473 E 55th Street

Long Beach, CA 90805
6,963 Lot Sq Ft
Built 1962
$2,950,000

Property Overview

10 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6% from day 1! Large unit mix of 9 (2bed/1bath) units and 1 (1bed/1bath) unit including 2 brand-new attached ADUs. Most units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash further minimizing the operating expenses. Non-LA-City rent controlled asset allowing significant 8.7% annual rent increases (5%+CPI) for future upside. The property also offers on-site laundry and parking that generates additional income. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Home Details

Property type
Residential Income - Mixed Use
Year built
1962
Lot size
6,963 sq ft
Parking
6 spaces
Stories
2
Days on market
13
Cumulative days on market
444
MLS status
Active
Zoning
LBR1N

Features & Amenities

Pool

  • None

Lot

  • Rectangular Lot

Community, Schools & Utilities

Community

Subdivision
Poly High (PH)

Utilities

Water
Public
Sewer
PublicSewer
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Location & Neighborhood

473 E 55th Street

Long Beach, CA 90805

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Frequently Asked Questions About 473 E 55th Street

Property type: Residential Income

The current asking price is $2,950,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 473 E 55th Street. Our team will confirm availability and timing.
This property offers the living space reported in the listing. It was built in 1962. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Long Beach, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Long Beach property.
The MLS currently reports the property as Active. It has been listed for 13 days. Status can change, so verify availability before relying on it.

What clients say

“Reza was the best agent we have ever worked with.”Russell & Susan McQueen

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Listing Agent

Name: Steven Bogoyevac
MLS ID: PBOYOSTE

Available property

$2,950,000

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Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.