522 E Rhea St

Long Beach, CA 90806

$1,775,000
Last Sold Price
15
Beds
7
Baths
4,212 Sq. Ft.
$421 / Sq. Ft.
4,212
Sq. Ft.
$421
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Closed 5/12/25
Closed 5/12/25

Description

Back on The Market! THIS 4-UNIT PROPERTY IS A RARE FIND FOR INVESTORS Looking for Great Income, with a Current Gross Schedule Income of $149,300 per Year! With a Current Cap Rate at 6.75, Also, The Entire Building was Totally Remodeled Down to the Studs in 2019. The Property Currently has a Newer Roof, Newer Copper Plumbing Throughout, Newer Windows, Newer Interior & Exterior Paint, Newer Laminated Wood and Tile Flooring throughout, Recess Lighting Throughout, Remodeled Kitchens with Newer Wood Cabinets,...Back on The Market! THIS 4-UNIT PROPERTY IS A RARE FIND FOR INVESTORS Looking for Great Income, with a Current Gross Schedule Income of $149,300 per Year! With a Current Cap Rate at 6.75, Also, The Entire Building was Totally Remodeled Down to the Studs in 2019. The Property Currently has a Newer Roof, Newer Copper Plumbing Throughout, Newer Windows, Newer Interior & Exterior Paint, Newer Laminated Wood and Tile Flooring throughout, Recess Lighting Throughout, Remodeled Kitchens with Newer Wood Cabinets, Granite Countertops, Newer Refrigerators, Stoves, Microwaves, Washers & Dryers, That's Included with the Purchase! This 4-Unit Building Offers (THREE) 4/Bedrooms 2/Bathrooms & (ONE) 3/Bedrooms with 1/Bathroom. Each Unit is Individually Metered with Gas & Electricity and Currently the Building is 100% Tenant Occupied. This Property Offers Great Gated Parking for Tenants, with (8) Inside Parking Spaces. This Property Wont Last! 6
  1. Listed by Marvin Malone • DRE #01202247 • Brokerage DRE #01834942 • Amberwood Real Estate, Inc. • 562-377-2370

Property Details for 522 East Rhea Street

View
None
Parking Spaces Total
8
Private Pool
No
Cooling Type
None
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4212
LISTING UPDATED: 05/14/2025 04:44 AM

Property Details for 522 East Rhea Street

StatusClosed
MLS #PW24016535
Days on Market394
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.15 AC / 6,500 SF
CountyLos Angeles County
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Location

Listing Courtesy of Amberwood Real Estate, Inc., Marvin Malone, DRE #01202247

Sold By Circa Properties, Inc., Alphonso Roberson, DRE #02122187

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Building Information for 522 East Rhea Street

Stories2Residences-Year Built1923Building Size-Lot Size0.15 AC / 6,500 SF

Payment Calculator

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OriginPoint Mortgage or Rocket Mortgage1

$9,655 per month

30 year fixed, 6.36% Interest

Principal and Interest

$8,845

Property Taxes

$810

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 522 East Rhea Street

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $147,300
  • Gross Scheduled Income: $149,300
  • Net Operating Income: $118,214
  • Cap Rate: 6.75
Expense Details
  • Operating Expense: $31,086
  • New Taxes Expense: $20,000
  • Licenses Expense: $250
  • Insurance Expense: $3,300
  • Maintenance Expense: $3,000
  • Trash Expense: $1,200
  • Water Sewer Expense: $3,336
  • Total Expenses: $31,086
Tax / Assessment Info
  • Tax Tract Number: 2
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 8
Community / Development
Community / Development
  • Accessibility Features: Doors - Swing In, Parking
  • Disability Access: Doors - Swing In, Other Main Level Modifications
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs, Sidewalks, Street Lights
  • Community: Poly High (PH)
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Free-Standing Range, Disposal, Gas Oven, Gas Cooktop, Gas Water Heater, Microwave, Portable Dishwasher, Refrigerator
  • Equipment: Dishwasher, Dryer, Dryer Included, Gas Or Electric Dryer Hookup, Inside, Laundry Closet Stacked, Microwave, Portable Dishwasher, Refrigerator, Stackable W/D Hookup, Washer, Washer Hookup, Washer Included
  • Interior Features: Ceiling Fan(s), Copper Plumbing Full, Granite Counters, Recessed Lighting
  • Room Type: Kitchen, Living Room
  • Water Heater Features: Gas
  • Laundry: Yes
  • Laundry Features: Dryer Included, Gas & Electric Dryer Hookup, Inside, Stackable, Washer Hookup, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Wall Furnace
  • Heating: Wall Furnace
  • Flooring Type: Laminate, Tile
  • Flooring: Laminate, Tile
Exterior Features
  • Window Features: Double Pane Windows
  • Security Features: Carbon Monoxide Detector(s), Security Lights, Smoke Detector(s)
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Exterior: Stucco
  • Roof: Composition
  • Entry Location: Steps
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Security, Wrought Iron
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
  • Spa Features: None
  • Spa Heat: N/K
Land/Lot Info
  • Lot Features: 2-5 Units/Acre, Near Public Transit
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: 220 Volts in Laundry
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned, Gated
  • Uncovered Spaces: 8
  • Open Other Spaces Total: 8
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Assigned, Concrete, Gated, On Site
Property / Structure Info
  • Builders Tract Name: Poly High
  • Builders Tract Code: Poly High (PH)
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,600
  • Unit Type Total Rent: $3,400
  • Unit Type Pro Forma: 4000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,475
  • Unit Type Total Rent: $3,475
  • Unit Type Pro Forma: 4000
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,100
  • Unit Type Total Rent: $3,100
  • Unit Type Pro Forma: 4000
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,300
  • Unit Type Total Rent: $2,300
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 4
  • Number With Refrigerator: 4
  • Number With Disposal: 4

Property History for 522 East Rhea Street

DateEvent & SourcePriceAppreciation
May 12, 2025

Sold

SDMLS #PW24016535

$1,775,000—
May 12, 2025

Sold

CRMLS #PW24016535

$1,775,000—
May 12, 2025

Sold

CLAW #PW24016535MR

—
DateEvent & SourcePrice
05/12/2025

Sold

SDMLS #PW24016535

$1,775,000
05/12/2025

Sold

CRMLS #PW24016535

$1,775,000
05/12/2025

Sold

CLAW #PW24016535MR

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 522 East Rhea Street

Taxable ValueLand$839,602Additions$634,023Total$1,473,625
Tax Record2025$9,715 ($810 / month)
Home Facts
Total Finished SqFt4,212 SqFtAbove Grade Finished SqFt4,212 SqFtLot Size6,500 SqFtStyleQuadraplexYear Built1923ZoningLBR1NCountyLOS ANGELESAPN7209-004-011

Schools near 522 East Rhea Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Burnett Elementary School
Public - K to 5
Jessie Nelson Academy
Public - 6 to 8
Polytechnic High School
Public - 9 to 12
Educational Partnership High School
Public - 9 to 12
Rating
School
Distance
Burnett Elementary School
PublicK to 5

Jessie Nelson Academy
Public6 to 8

Polytechnic High School
Public9 to 12

Educational Partnership High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Amberwood Real Estate, Inc., Marvin Malone, DRE #01202247

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.