473 E 55th Street, Long Beach, California 90805, Long Beach, 90805 - 0 bed, 0 bath
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Long Beach, California 90805
This 10-unit multi-family Strong Value Opportunity is listed at $2,925,000—positioned well below the $3,157,528 Fair Market Value by 7%. This valuation gap offers $232,528 in Instant Equity. Featuring a Condition Rating of 2 with recent renovations and two new ADUs, this asset delivers a 6% cap rate. The non-rent controlled status allows for aggressive revenue growth, making this a prime acquisition for Buy-and-Hold Investors or Portfolio Managers seeking immediate, high-performing cash flow in a coastal market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 473 E 55th Street Subject | $2,925,000* List Price | 0 | 0 | 7,592 | $416 | - |
A 6060 Atlantic Active | $3,395,000 List Price | 0 | 0 | 6,966 | $487 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property features extensive recent renovations including updated kitchens with stainless steel appliances, modern cabinetry, and new flooring. The addition of two brand-new ADUs and the presence of modern mini-split HVAC systems, combined with updated electrical metering, align with the criteria for a high-quality renovation completed within the last 5 years.
The property delivers an impressive 6% Cap Rate from day one, providing investors with immediate, high-performing cash flow in a competitive coastal market.
Being outside of LA City rent control allows for more aggressive annual rent increases (5% + CPI), offering significant long-term revenue upside compared to neighboring municipalities.
Individual metering for gas and electricity, combined with tenants paying for their own trash, significantly reduces the owner's utility expenses and management burden.
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 situated on a sub-7,000 square foot lot, the high density may lead to limited outdoor common space and potential parking congestion for tenants.
While central to freeways, the North Long Beach location is considered a secondary rental market compared to the higher-demand, premium coastal neighborhoods of South Long Beach.
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 | 80% |
| Lot Size | 6,963 | 6,963 | 50% |
| Price | $2.92M | $1.75M | 80% |
| Price per sq ft | $385 | $320 | 60% |
| Built year | 1962 | 1956 | 60% |
| HOA | $0 | $0 | 50% |
| Days on market | 50 | 124 | 20% |
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