Long Beach, CA 90802 334 W 5th Street
$1,050,000
16 more
Presented By: Anthony Walker with Buckingham Investments, Inc; 310-561-4776
Beds • 4
Baths • 4
SQFT • 2,688
Year Built • 1923
Home Details
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 expense property 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 block away 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.
Presented By: Anthony Walker with Buckingham Investments, Inc; 310-561-4776
Interior Features for 334 W 5th Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringLaminate
Heating Y/NYes
Laundry FeaturesNone
Total Stories2
Other Rooms
Entry Level1
General for 334 W 5th Street
AccessibilityNone
Additional Parcels Y/NNo
AppliancesGasRange
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.3
Carport Spaces0.0
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
CoolingNone
CountyLos Angeles
Current FinancingNone
DirectionsSouthWest corner of 5th and Chestnut Ave
ElectricStandard
Electric On Property Y/NNo
Entry Location1
Facing DirectionNortheast
Fuel Expense581.0
Garage Spaces0.0
Garage Y/NNo
Gross Income78960.0
HOANo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense4704.0
Interior FeaturesBuiltInFeatures
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCashToNewLoan
Lot Size Square Feet2001.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense3751.0
MobileHomeRemainsYNNo
Net Operating Income45429.0
New ConstructionNo
Number Of Units Total4
Number of Units Leased4
Open Parking Spaces0.0
Operating Expense29583.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NYes
Property Sub Type AdditionalQuadruplex
Property SubtypeQuadruplex
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameDowntown (DT)
Tax Lot4
Taxes$13,125
Tenant PaysElectricity, Gas
Total Actual Rent6580.0
Trash Expense581.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
ViewNone
Water Sewer Expense581.0
Waterfront Y/NNo
Year Built1923
Year Built SourceAssessor
ZoningLBPD10
Exterior for 334 W 5th Street
Building Area Total2688.0
Crops Included Y/NNo
Foundation DetailsRaised
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesRectangularLot
Lot Size Acres0.0459
Lot Size Area2001.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters4
Number of Separate Gas Meters5
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesNone
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
Price
$1,050,000
MLS#SB25062688
List Date
03/27/2025
Property Type
Multi-Family
Phone
(310) 963-5595
