473 E 55th Street, Long Beach, California 90805, Long Beach, 90805 - 0 bed, 0 bath
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Long Beach, California 90805
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.
Property is new construction or fully renovated.
Although built in 1962, the property has undergone a comprehensive renovation within the last 5 years. Interior images show modern kitchens with quartz countertops and shaker cabinets, updated bathrooms with contemporary tile work, and new flooring throughout. The addition of two brand-new ADUs and the installation of modern mini-split HVAC systems indicate the property is in mint condition with minimal immediate maintenance required.
The property features an impressive 6% current cap rate from day one, providing immediate and significant returns for investors in a competitive Southern California rental market.
Being outside of LA City rent control allows for higher annual rent increases of up to 8%, offering substantial future upside compared to more restrictive neighboring jurisdictions.
Units are individually metered for gas and electricity, and tenants pay for their own trash, which significantly minimizes operating expenses and protects the owner's bottom line.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 7592, other record living area = 6391.
With 10 units and over 7,500 square feet of building space on a 6,963 square foot lot, the high density leaves very little room for outdoor amenities or common area improvements.
The North Long Beach location, while central to freeways, lacks the premium coastal appeal and higher appreciation potential found in the southern, beach-adjacent neighborhoods of the city.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 7,592 | 6,048 | 67% |
| Lot Size | 6,963 | 6,963 | 50% |
| Price | $2.92M | $1.75M | 67% |
| Price per sq ft | $385 | $385 | 50% |
| Built year | 1962 | 1962 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 203 | 33% |
Apr 17, 2026
$2,925,000
Initial Listing
Jan 16, 2024
$1,425,000
Public Record
Oct 29, 2010
$144,000
Public Record
Mar 31, 2010
$44,000
Public Record