Investment Overview

Marcus & Millichap is pleased to present to market the exciting opportunity to acquire the stunning turnkey investment property located at 473 East 55th Street in Long Beach, California. The property is a 1962 construction with a sought-after mix of nine two-bed/one-bath units and one one-bed/one-bath unit; two of the units are brand new attached ADU’s. Most of the units have been thoughtfully updated and boast new modern yet timeless flooring, kitchens, and bathrooms to attract a solid tenant base and demand strong rents. The property also offers on-site laundry that generates additional income, and all units are separately metered for gas and electricity to reduce owner expenses. 473 East 55th Street is located in North Long Beach 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.