Properties
Long Beach, CA 90802 1048 E 5th Street
$2,350,000
15 more
Presented By: JENNIFER MENDOZA with EXP REALTY OF CALIFORNIA INC; agentjennifermendoza@gmail.com
SQFT • 4,450
Garage • 5
Home Details
***Immediate Income Opportunity***Value-add 6-unit in Long Beach with enough land for additional units + parking. Fully renovated, strong cash flow, and ready for a developers expansion plans. High upside via development or hold. Rare Long Beach opportunity: a fully stabilized 6-unit multifamily income property (5 of 6 units recently renovated, 6th unit has been updated) offered with garage parking for 5 spaces. Located near freeway access, top Long Beach dining and shopping corridors, and waterfront attractions. Excellent for investors seeking both strong cash flow and development upside. [CROSS POSTED MLS# IV25264295]
Presented By: JENNIFER MENDOZA with EXP REALTY OF CALIFORNIA INC; agentjennifermendoza@gmail.com
Interior Features for 1048 E 5th Street
Other Interior Features
Common Walls1 Common Wall
Laundry FeaturesWasher Hookup, Electric Dryer Hookup
Total Stories2
Other Rooms
Entry Level
General for 1048 E 5th Street
Additional Parcels Y/NNo
Building Area UnitsSquare Feet
Cap Rate6.64
CityLong Beach
Community FeaturesSidewalks, Urban
CountyLos Angeles
DirectionsAlamitos and 5th
Electric Expense
Fuel Expense
Garage Spaces5
Garage Y/NYes
Gross Income13561
Insurance Expense625
Land Lease Y/NNo
Listing TermsCash, Conventional, 1031 Exchange, Owner May Carry, Submit
Lot Size Square Feet14871
Lot Size UnitsSquare Feet
MLS Area4 - Downtown Area, Alamitos Beach
Net Operating Income146232
New ConstructionNo
Number Of Units Total6
Number of Units Leased6
Operating Expense16500
Pool FeaturesNone
PostalCityLONG BEACH
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidential Income
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Subdivision NameAlamitos Beach (AB)
Trash Expense265
Water Sewer Expense265
Year Built1915
Year Built SourceSee Remarks
Exterior for 1048 E 5th Street
Building Area Total4450
Lot Size Acres0.3414
Lot Size Area14871
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters
Number of Separate Gas Meters0
Number of Separate Water Meters0
Parking FeaturesDoor-Single, Garage, Public
Private PoolNo
Total Parking5
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
