334 W 5th Street, Long Beach, CA 90802 - MLS#SB25062688

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Nicole Hazelton

[email protected] +1(619) 206-1892

$1,050,000

Est. payment - /mo

4 Beds

4 Baths

2,001 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25062688

Bedrooms 4

HOA Y/N No

Lot Size 2,001 Sqft

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.
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

Area Long Beach (90802)

Zoning Assessor

Building

Story 2

Lot Size Range 1-3999 SF

Level or Stories 2 Story

Others

Monthly Total Fees $60

Space Rent $1,595

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Listed by Anthony Walker • Buckingham Investments, Inc

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Nicole Hazelton

+1(619) 206-1892

Broker Associate | License ID: 01819363

Broker Associate License ID: 01819363

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334 W 5th Street Long Beach, CA 90802

Nicole Hazelton

Key Details

Location

Building

Others

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