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$ 1,990,000
Est. payment /mo
Active
3121 E 5th Long Beach, CA 90814
8 Beds
4 Baths
6,753 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Bluff Park (Blf)
MLS Listing ID PW26116533
Bedrooms 8
Lot Size 6,753 Sqft
Lot Dimensions 50x135
Property Sub-Type Res Income 2-4 Units
Property Description
Well maintained Mediterranean 5 plex is just blocks to the beach. Popular rental residential area. All units are 2 BR/1BA. 4 units are 1242 sqft and the unit above the detached 4 single car garages is 854 sqft. As the owners upgraded units, they preserved many original, ornate features such as tile work, arched openings to dining rooms, coved ceilings and polished hardwood floors. Common area laundry room. Unit #3127 will remain not rented. With the actual current rents + 1 vacancy, the CAP rate is 4.8%. Potential upside is high for investors with building improvement in mind. Potential pro-forma rent total is $152,400 and NOI can be $127,089. Potentially 6.4% CAP rate and 13 GX. It is a fantastic investment opportunity.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Obispo and 5th
Interior
Fireplace No
Exterior
Utilities Available Sewer Connected
View Y/N No
Building
Story 2
Level or Stories 2
Others
HOA Fee Include Sewer,Water
Senior Community No
Tax ID 7257006027
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Ikumi Baker, DRE#00879343 Remco - A. R. E. & Mgmt. Co.