445 East 55th Street

Long Beach, CA 90805

$1,728,000
Last Sold Price
11
Beds
10
Baths
5,170 Sq. Ft.
$334 / Sq. Ft.
5,170
Sq. Ft.
$334
per Sq. Ft.

Description

Excellent remodeled 6-unit building with great rents, ample parking, and more upside in north Long Beach. Building infrastructure has had many upgrades, including new copper plumbing throughout, new ABS sewer line, new breaker boxes, hardwood floors, and reconditioned roof. 5 of the 6 units have gone through extensive remodeling, and delivered with reliable tenants who have yet to miss any rental payments in the last years. The building has 7 one-car garages as well as an additional uncovered parking...Excellent remodeled 6-unit building with great rents, ample parking, and more upside in north Long Beach. Building infrastructure has had many upgrades, including new copper plumbing throughout, new ABS sewer line, new breaker boxes, hardwood floors, and reconditioned roof. 5 of the 6 units have gone through extensive remodeling, and delivered with reliable tenants who have yet to miss any rental payments in the last years. The building has 7 one-car garages as well as an additional uncovered parking spot in front of each, 14 parking spots total. Coin operated laundry room in the rear services the building and provides additional income. Turn-key property with low maintenance and low expenses, great value with additional income upside and easy access to freeways, the beach, parks, and restaurants.

Listing Agents

  1. Derek Lester

    Derek Lester

    Listing Agent

    Compass

    DRE #01921397

  2. Joe Reichling

    Joe Reichling

    Alternative Listing Agent

    Compass

    DRE #01427385

Property Details for 445 East 55th Street

Zoning
LBR1N
Parcel Number
7127024029
Total Units
6.0
Living Area
5170
Source Living Area
Vendor Enhanced
Area
North Long Beach (7)
Vacancy Rate
2
Lot Size Area
7171

Location

Listing Courtesy of Compass, Derek Lester, DRE #01921397; Compass, Joe Reichling, DRE #01427385

Sold By LFA Multifamily Inc., Ari Gharib, DRE #01981194

Add your commute
LISTING UPDATED: 09/13/2021 08:55 AM

Property Details for 445 East 55th Street

StatusSold
MLS #21-709562
Days on Market64
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1968
Lot Size0.16 AC / 7,171 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, Derek Lester, DRE #01921397; Compass, Joe Reichling, DRE #01427385

Sold By LFA Multifamily Inc., Ari Gharib, DRE #01981194

Add your commute

Building Information for 445 East 55th Street

Stories2Residences-Year Built1968Building Size-Lot Size0.16 AC / 7,171 SF

Payment Calculator

$11,356 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,430

Property Taxes

$1,926

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 445 East 55th Street

Community / Development
Community / Development
  • Number Of Units: 6
  • Amenities: None
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
  • Water: In Street
  • Sewer: In Street
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $138,600
  • Net Operating Income: $103,950.00
  • Gross Income: $138,600
  • Cap Rate: 6.02%
  • Gross Rent Multiplier: $12.44
  • Total Annual Expense: 34350
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1646
  • Lot Size Square Feet: 7171
  • Lot Size Dimensions: 50x143
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Garage, Driveway
  • Total Parking: 7
  • Covered Parking: 7
  • Open Other Spaces Total: 7
  • Parking Features: Garage, Driveway
Interior Features
Interior Features
  • Cooling Type: Window Unit(s)
  • Heating Type: Wall Gas
  • Flooring: Wood
  • Equipment: Microwave, Ice Maker, Garbage Disposal, Dishwasher, Ceiling Fan, Refrigerator, Washer, Dryer
  • Interior Features: Ceiling Fan(s)
  • Cooking Appliances: Cooktop - Gas, Microwave, Oven
  • Laundry: Laundry Area
  • Laundry Equipment: Lease
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-23-2021
  • Tenant Pays: Electricity, Gas, Water
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,000.00
  • Unit Actual Rent: $2,000.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,400.00
  • Unit Actual Rent: $1,400.00
  • Unit Projected Rent: $1,600.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $1,600.00
  • Unit Actual Rent: $2,400.00
  • Unit Projected Rent: $1,600.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: Yes
  • Unit Rent: $2,300.00
  • Unit Actual Rent: $2,900.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,650.00
  • Unit Actual Rent: $1,650.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,500.00
  • Unit Actual Rent: $2,500.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $984,300.00
  • Assessed Improvement Percent: 70.7
  • Assessed Land Value: $408,000.00
  • Assessed Land Percent: 29.3
  • Assessed Total Value: $1,392,300.00

Property History for 445 East 55th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 445 East 55th Street

Taxable ValueLand$436,560Additions$1,326,000Total$1,762,560
Tax Record2023$23,109 ($1,926 / month)
Home Facts
Total Finished SqFt5,170 SqFtAbove Grade Finished SqFt5,170 SqFtLot Size7,138 SqFtStyleMulti-Family Res (5+ Units)Year Built1968ZoningLBR1NCountyLOS ANGELESAPN7127-024-029

Schools near 445 East 55th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
Addams Elementary School
PublicK to 5

Lindsey Academy
Public6 to 8

Jordan 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.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Derek Lester, DRE #01921397; Compass, Joe Reichling, DRE #01427385

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.