$1,250,000 - 531 5th Street, Long Beach
- 3Beds
- 7Baths
- 0SQ. Feet
- 0.17Acres
531 W 5th Street is a 7-unit apartment complex located in Los Angeles County’s rapidly growing Long Beach Market. Consisting of (1) detached 3 bedroom/ 1 bath home and (6) Studios with full kitchens and large baths. The property features 4 newly constructed garages with three storage units and (1) 2 car garage. Offering an investor the opportunity to acquire a true value-add asset with over 54% in rental upside. All tenants are on month-to-month leases. Access to commuting freeways and core job markets continues to make this location irreplaceable. A future investor will enjoy long-term upside with this asset, due to a continued shortage of apartment housing and lack of affordability in single-family homes in Southern California.
Sales Agent
Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent NowEssential Information
- MLS® #:NP24025759
- Price:$1,250,000
- Bedrooms:3
- Bathrooms:7.00
- Acres:0.17
- Year Built:1905
- Type:Residential Income
- Sub-Type:Mixed Use
- Status:Closed
- Listing Agent:Kacey Taormina
- Listing Office:Compass
Community Information
- Address:531 5th Street
- Area:4 - Downtown Area, Alamitos Beach
- City:Long Beach
- County:Los Angeles
- Zip Code:90802
Amenities
- Parking Spaces:5
- # of Garages:5
- Pool:None
Interior
- # of Stories:1
- Stories:One
Exterior
- Lot Description:Front Yard
Additional Information
- Date Listed:January 29th, 2024
- Days on Market:5
- Zoning:LBPD30
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Based on information from California Regional Multiple Listing Service, Inc. as of May 7th, 2024 at 11:20pm CDT. 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.