Price cut
$2,950,000
19 bd · 10 ba · · 6,961 sqft lot
473 E 55th St, Long Beach, CA 90805
Multi-family · Built 1962 ·
$18,068/mo est. payment
Flood factor 5/10
About this home
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.
Facts and features
Bedrooms
- Bedrooms: 19
Bathrooms
- Total Bathrooms: 10
- Full Bathrooms: 10
Appliances
- Laundry Features: Community
Land Info
- Additional Parcels: No
- Land Lease: No
- Lot Description: Rectangular Lot
- Lot Size Acres: 0.1598
- Lot Size Source: Assessor
- Lot Size Square Feet: 6963
Garage and Parking
- Parking Total: 6
Multi-Unit Info
- Number of Buildings: 1
- Number of Units: 10
- Bedrooms in Unit-1: 2
- Bedrooms in Unit-2: 1
- Bedrooms in Unit-3: 2
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 1
- Total Bathrooms in Unit-3: 1
Rental Info
- Gross Scheduled Income: 246492
- Vacancy Allowance: 7395
- Rent Control: Yes
Amenities and Community Features
- Community Features: Suburban
Schools
- 5
Addams Elementary School
elementary · K-5 · 0.3 mi
- 3
Lindsey Academy
middle · 6-8 · 0.9 mi
- 3
Jordan High School
high · 9-12 · 1.1 mi
St. Athanasius Elementary School
elementary · K-8 · 0.2 mi
Spectrum Center- Long Beach Middle Market Street
elementary · 2-12 · 0.3 mi
- 4
Lindbergh Middle School
middle · 6-8 · 0.4 mi
Price history
- Sep 24, 2026 · Listed$2,950,000
- Sep 23, 2026 · Listing Removed—
- Aug 12, 2026 · Listed$2,925,000
- Aug 12, 2026 · Listing Removed—
- Jul 23, 2026 · Relisted$2,925,000
- Jul 18, 2026 · Listing Removed—
- Apr 17, 2026 · Listed$2,925,000
- Apr 13, 2026 · Listing Removed—
Tax history
- 2025$25,338 tax · $1,872,720 assessed
- 2024$13,190 tax · $1,836,000 assessed
- 2023$12,719 tax · $892,774 assessed
- 2022$11,968 tax · $875,270 assessed
- 2021$11,689 tax · $858,109 assessed
- 2020$11,657 tax · $849,312 assessed
- 2019$11,522 tax · $832,660 assessed
- 2018$11,141 tax · $816,335 assessed
Where it is
Listed by Steven Bogoyevac · Steven M. Bogoyevac, Broker · CRMLS
