$1,475,000 - 5729 California Avenue, Long Beach

  • 2Beds
  • 2Baths
  • 0SQ. Feet
  • 0.13Acres

5729 California Avenue is a seven-unit property located in North Long Beach. The property is comprised of six (6) studio units and a detached, remodeled 2BD/1BA house. The house was completely renovated as of 2022. The property is priced at 11.96 x gross and 5.18 cap rate on current rents. A new owner has the opportunity to increase rents and achieve 10.60 x gross and 6.17% cap rate. Additional income generating opportunities for a new owner include renting out storage spaces and surface parking spots on the property. Each building has its own electric meter, and a new owner could implement RUBS to further bring down operating expenditures.

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Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:PW23047866
  • Price:$1,475,000
  • Bedrooms:2
  • Bathrooms:2.00
  • Acres:0.13
  • Year Built:1928
  • Type:Residential Income
  • Sub-Type:Mixed Use
  • Status:Closed
  • Listing Agent:Robert Stepp
  • Listing Office:Keller Williams - Santa Monica

Community Information

  • Address:5729 California Avenue
  • Area:7 - North Long Beach
  • Subdivision:North Long Beach (NLB)
  • City:Long Beach
  • County:Los Angeles
  • Zip Code:90805

Amenities

  • Parking Spaces:4
  • Pool:None

Exterior

  • Lot Description:6-10 Units/Acre

Additional Information

  • Date Listed:March 23rd, 2023
  • Days on Market:97
  • Zoning:LBCNR

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Based on information from California Regional Multiple Listing Service, Inc. as of May 18th, 2024 at 7:20pm 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.