REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,050,000
Est. payment /mo
Pending
334 W 5th Street Long Beach, CA 90802
4 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID SB25062688
Bedrooms 4
Property Sub-Type Res Income 2-4 Units
Property Description
Perfect 4 unit investment property right in the heart of Downtown Long Beach, benefitting from over $8 billion in new and ongoing development. The property features four 1 bed/1 bath units in 2688 square feet on a 2001 square foot lot. Well priced on actual income at 13.3X GRM with a 9% upside in rents to a market GRM of 12. Nicely remodeled interiors that offer modern finishes while maintaining the period character of the building. Simple low expenseproperty separately metered for gas and electric. Well maintained, professionally managed Asset in a dense, high demand rental market. Attractive entry price and low price per door for a 4 unit property, offering 30 year fixed financing. The property is only 2 blocks to the massive civic center redevelopment, 2 blocks to historic Pine Avenue, and 5 blocks to Ocean Blvd. The Metro Blue Line station is only one blockaway for excellent transit access. Per Costar, 65% of households within a 5 mile radius are renters with an average household income of over $93,000.
Location
State CA
County Los Angeles
Zoning Assessor
Direction SouthWest corner of 5th and Chestnut Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 7280011005
Listed by Anthony Walker Buckingham Investments, Inc