Long Beach, CA 90803 5290 E Division Street
$2,150,000
10 more
Presented By: AJ Nay with AJ Nay, Broker; 305-433-3300
Beds • 8
Baths • 3
SQFT • 2,712
Year Built • 1952
Home Details
Income and expense are using projected market rents and put property operating at projected 5.48% Cap and 12.4X Gross (Estimated current 4.34% and 14.4X). Located in the affluent community of Belmont Shore, a Southern California beach community and “college town” being just a few minutes from CSU Long Beach. Both buildings (also for sale with 102 Argonne 10U for $2,750,000) are meticulously cared for, and both have been upgraded with copper plumbing, and most unit interiors have been upgraded. The investment provides the opportunity to increase your return by increasing the rents to market and separate metering the building utilities, therefore, providing immediate lower overhead/increased cash flow and continued added value in the future with rising utility costs being transferred to the tenants. Laundry is leased and managed by a 3rd party offering further income upside by canceling the contract and installing your own machines. Some units may be rented at amounts different than current income rent roll. Insurance rates may not be current rate for new owner, so buyer must get own insurance quotes including flood insurance if needed. Street parking only.
Presented By: AJ Nay with AJ Nay, Broker; 305-433-3300
Interior Features for 5290 E Division Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 5290 E Division Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.48
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
CoolingNone
CountyLos Angeles
Directions2nd Street, Turn east on Glendora, Right on 1st St will be on right at Division Street
DisclosuresCoastalCommissionRestrictions, CoastalZone, FloodInsuranceRequired
Electric Expense2421.0
Electric On Property Y/NNo
Entry Locationstreet
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income148800.0
HOANo
Home Warranty Y/NNo
Insurance Expense7800.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Exchange1031
Lot Size Square Feet3485.0
Lot Size UnitsSquareFeet
MLS Area1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr
MaintenanceExpense7485.0
MobileHomeRemainsYNNo
Net Operating Income117855.0
New ConstructionNo
Number Of Units Total8
Operating Expense50925.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameBelmont Shore (BSD)
Tax Lot2
Taxes$27,950
Tenant PaysNone
Total Actual Rent12400.0
Trash Expense0.0
Water Sewer Expense5269.0
Year Built1952
Year Built SourceAssessor
ZoningLBR2S
Exterior for 5290 E Division Street
Building Area Total2712.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesCornerLot
Lot Size Acres0.08
Lot Size Area3485.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters1
Number of Separate Gas Meters1
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesNone
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
WaterfrontY/NNo
Additional Details
Price History
Keegan Cin
Team Lead
Price
$2,150,000
MLS#PW25090414
List Date
04/28/2025
Property Type
Multi-Family
Phone
(310) 963-5595
