473 E 55th Street, Long Beach, California 90805, Long Beach, 90805 - 0 bed, 0 bath
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473 E 55th Street
Long Beach, California 90805
ACTIVE
CONDITION: EXCELLENT
0Beds
0Baths
7,592Sq Ft
6,963Lot Size
Property Price
LIST PRICE$2,925,000
SUMMARY
Analysis of 473 E 55th Street, Long Beach, California 90805 is currently available with a list price of $2,925,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Long Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although originally built in 1962, the property has undergone a comprehensive recent renovation including two brand-new ADUs. The units feature updated shaker-style cabinets, modern flooring, and refreshed bathrooms. The turnkey status, individual metering, and exterior improvements indicate a high level of maintenance and recent capital expenditure within the last 5 years.
PROSSTRENGTHS & OPPORTUNITIES
- Strong Day-One Cash Flow
The property delivers an impressive 6% current cap rate from day one, offering investors immediate and robust returns that are rare in the Southern California coastal market.
- Favorable Rent Control Status
Located outside of LA City rent control, the asset allows for significant annual rent increases of 5% plus CPI, providing superior long-term revenue upside compared to more restrictive neighboring areas.
- Low Operational Expenses
Individual metering for gas and electricity, combined with tenants paying for their own trash, significantly reduces the owner's utility burden and maximizes net operating income.
CONSRISKS & DEFICIENCIES
- Rapid Valuation Increase
The current asking price of $2.925M is more than double the $1.425M sale price from early 2024, which may lead to appraisal challenges or buyer concerns regarding the speed of appreciation.
- High Density Configuration
Housing 10 units on a sub-7,000 square foot lot creates a high-density environment that may limit tenant privacy and restrict the availability of open common areas or additional amenities.
About 473 E 55th Street
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% 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.
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1962
- Lot Size
- 6,963 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.0 |
| Baths | 0.0 | 1.0 |
| Square foot | 7,592 | 3,749.222 |
| Lot Size | 6,963 | 5,654.444 |
| Price | $2.92M | $1.44M |
| Price per sq ft | $385 | $381 |
| Built year | 1962 | 1928 |
| HOA | $0 | $0 |
| Days on market | 28 | 92 |
Pricing History
Listed for Sale
Aug 12, 2026
$2,925,000
Initial Listing
Sold
Jan 16, 2024
$1,425,000
Public Record
Sold
Oct 29, 2010
$144,000
Public Record
Sold
Mar 31, 2010
$44,000
Public Record