Long Beach, CA 90802 737 E 5th Street
$4,400,000
1 more
Presented By: Kevin King with Marcus & Millichap; kking@marcusmillichap.com
Beds • 24
Baths • 4
SQFT • 12,412
Garage • 7
Year Built • 1964
Home Details
New Pricing and Recent Rent Increases!” “Now a 6.21% Cap Rate at List Price. We are pleased to present a very well maintained 14- unit apartment in a fantastic East Village location. The building was built in 1964 and features 4 one-bedroom units, 4 two-bedroom units, and 6 two-bedroom two bath units. Current ownership has taken extremely good care of these buildings and over the years has replumbed the building, upgraded the electrical, installed new windows, installed a new roof and in general created a turnkey asset or a new investor. The current rents are slightly below market allowing a new owner to raise rents without turnover.
Presented By: Kevin King with Marcus & Millichap; kking@marcusmillichap.com
Interior Features for 737 E 5th Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories3
Other Rooms
Entry Level1
General for 737 E 5th Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.21
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, Sidewalks
CountyLos Angeles
Directions5th St. & Marrietta Ct.
Electric Expense2300.0
Electric On Property Y/NNo
Entry LocationFront
Fuel Expense0.0
Garage Spaces7.0
Garage Y/NYes
Gross Income376554.0
HOANo
HeatingNaturalGas
Home Warranty Y/NNo
Insurance Expense12000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo, ThreeOrMore
Listing TermsCash, CashToNewLoan, Exchange1031
Lot Size Square Feet7468.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MaintenanceExpense15528.0
MobileHomeRemainsYNNo
Net Operating Income273268.0
New ConstructionNo
Number Of Units Total14
Operating Expense103286.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer, SepticTypeUnknown
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot26
Taxes$54,748
Total Actual Rent30225.0
Trash Expense5089.0
Water Sewer Expense5089.0
Waterfront Y/NNo
Year Built1964
Year Built SourceAssessor
ZoningLBPD30
Exterior for 737 E 5th Street
Building Area Total12412.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesElevenToFifteenUnitsAcre
Lot Size Acres0.1714
Lot Size Area7468.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters14
Number of Separate Gas Meters14
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking7.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
Price
$4,400,000
MLS#PW24229677
List Date
11/07/2024
Property Type
Multi-Family
Phone
(310) 963-5595
