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Sold on 12/20/2024
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651 E 46th St, Long Beach, CA 90807

$2,770,000

Last sold 12/20/2024 after 72 Days

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    bed

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    bath

Multi-family not for sale
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About 651 E 46th St

Property type Multi-family
Neighborhood
Year built 1973
HOA fee $0/month
Lot size 0.26 Acre
Parking 10 garage spaces
Rental estimate
Property description
651 E. 46th Street is a 12-unit value add investment asset located in the Bixby Knolls neighborhood of Long Beach. The property offers a new investor 34% total rental upside potential for a 7.8% market cap rate. Situated on a 11,154-square-foot lot, the building features all spacious units: (9) 1BD/1BA; (1) 2BD/1BA; (1) 2BD/2BA; and (1) 3BD/2BA. Additionally, the 100% electric building includes copper plumbing throughout. Onsite laundry provides a convenient facility for tenants and an added income stream for the owner. Ten (10) garages and two (2) surface spaces offer the potential to provide additional income as well as ADU opportunities. Located within steps to Aldi and other amenities, the property is also in close proximity to Atlantic Avenue's restaurants, coffee shops and amenities. In recent years the area has become a dynamic locale for exciting new businesses. The Bixby Knolls location offers convenient proximity to both the 710 and 405 freeways, providing quick and easy access to all areas of Southern California.
Listed by
Listing Agent - Robert Stepp
Listing Agent Contact: 310-463-2916
Listing Office - Keller Williams - Santa Monica
Source: CRMLS mls logo
MLS#PW24210020 • last updated 1 year ago
Movoto checked CRMLS for data 4 minutes ago
Overview
Levels/Style Two
Type Residential Income
SubType Apartment
Status Closed
Lot Size (Acres) 0.2561
Lot Size (SqFt) 11157
Year Built 1973
Interior
Laundry Common Area
Exterior
Building Area Square Feet, 10062
# Uncovered Spaces 2
# Parking Spaces 12
# Garage Spaces 10
Lot Description 11-15 Units/Acre
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Los Angeles
Community Features Sidewalks
Subdivision Bixby Knolls (BK), Bixby Knolls (BK)
Zoning LBR3S
Directions Atlantic Ave
APN 7135005026
Multifamily Details
Expense: Trash 2140.7
Operating Expense 85367
Cap Rate 4.86
Expense: Insurance 12000
Total Expenses 85367
Expense: Maintenance 8400
Expense: Water/ Sewer 2140.7
Gross Income 226084
Expense: Electric 2140.7
Gross Multiplier 12.42
Gross Scheduled Income 233076
Expense: Fuel 2140
Expense: Gardener 1720
Rental est.: $1,643/month
Gross rent multiplier: 140.5
  • Dec 2024
    mls logo MLS # PW24210020
  • Dec 26, 2024 Sold
    $2,770,000
  • Dec 5, 2024 Pending
    —
  • Oct 29, 2024 Active
    —
  • Oct 9, 2024 Listed
    $2,895,000
  • Dec 2024
    Public Records
  • Dec 20, 2024 Sold
    $2,770,000 (-4.3%)
  • Year Property taxes Tax assessment
  • 2024
    $13,051 +1.9%
    $849,819 +2.0%
  • 2023
    $12,813 +6.0%
    $833,157
  • 2022
    $12,084 +2.7%
    $833,157 +4.04%
  • 2021
    $11,768 +0.3%
    $800,807 +1.04%
  • 2020
    $11,734
    $792,597
  • 651 E 46th St
    $2.77M
  • Bixby Knolls
    $987K -1% y/y
  • 90807
    $898K +2% y/y
  • Long Beach
    $699K 0% y/y
No chart available
Statistics calculated by Movoto

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4/10
Barton Elementary School
public Grades K-5
Long Beach Unified School District
6/10
Hughes Middle School
public Grades 6-8
Long Beach Unified School District
3/10
Jordan High School
public Grades 9-12
Long Beach Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

Around Bixby Knolls

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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/3/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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