21
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$2,350,000
Est. payment /mo
New
1048 E 5th ST Long Beach, CA 90802
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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID IV25264295
HOA Y/N No
Year Built 1915
Property Sub-Type Multi Family
Property Description
***Immediate Income Opportunity***Value-add 6-unit in Long Beach with permits for 5 additional units + parking. Fully renovated, strong cash flow, and shovel-ready expansion. High upside via development or hold. Contact agent for detailed pro forma and plans.
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 approved and paid permits for 5 additional units plus structured parking. The redevelopment plan includes 3 × 4BR/3BA & 2 × 3BR/2BA ADUs above parking — conservatively modeled to generate AN ADDITIONAL $23,000/month in rent once built. Pro-forma NOI (post-build) projects to ~$316,739 on gross schedule income of ~$444,120/year. Permits are in hand, making this a fast-to-market value play. 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.
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 approved and paid permits for 5 additional units plus structured parking. The redevelopment plan includes 3 × 4BR/3BA & 2 × 3BR/2BA ADUs above parking — conservatively modeled to generate AN ADDITIONAL $23,000/month in rent once built. Pro-forma NOI (post-build) projects to ~$316,739 on gross schedule income of ~$444,120/year. Permits are in hand, making this a fast-to-market value play. 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.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup
Building
Story 2
Water Public
Others
Tax ID 7266009015
Acceptable Financing Cash, Conventional, 1031 Exchange, Owner May Carry, Submit
Listing Terms Cash, Conventional, 1031 Exchange, Owner May Carry, Submit
Special Listing Condition Standard
Listed by JENNIFER MENDOZA EXP REALTY OF CALIFORNIA INC agentjennifermendoza@gmail.com
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