CA > Long Beach > Alamitos Beach (Ab)
Long Beach, CA 90802,1048 E 5th ST
Long Beach, CA 90802,1048 E 5th ST
Long Beach, CA 90802,1048 E 5th ST
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Mon
18
Aug
Tue
19
Aug
Wed
20
Aug
The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,500,000
Est. payment /mo
0.34 Acres Lot
Save

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID IV24250595

HOA Y/N No

Year Built 1915

Lot Size 0.341 Acres

Property Sub-Type Apartment

Property Description

***PRICE IMPROVEMENT***Prime Investment Opportunity with FULLY APPROVED PLANS RTI***Entitled 11-Unit Development with Existing Cash Flow in Long Beach.
This is a rare and highly attractive opportunity to acquire a stabilized 6-unit multifamily property situated on an oversized lot already entitled for an additional 5 units—bringing the total future unit count to 11 units. Upon completion, the project is projected to be valued at over $6,000,000, making this a compelling investment with significant upside potential. 5 of 6 units fully renovated with brand-new systems throughout the property, ensuring minimal immediate capital expenditures. Unit Mix (Existing 6 Units):
(4) 1 Bed / 1 Bath
(1) 2 Bed / 1 Bath
(1) 2 Bed / 2 Bath.
Entitled 5 Additional Units: FULLY APPROVED PLANS RTI -
(2) 3 Bed / 2 Bath units with grade-level parking
(3) 4 Bed / 3 Bath townhome-style units, also with grade-level parking.
Stabilized Gross Income: Projected to generate nearly $37,000 per month upon full build-out.
Strong Cap Rate: Stabilized at a 6.75% Cap Rate on cost. Attractive GRM: Achieves a 10.74 GRM on cost, underscoring strong investment fundamentals.
Projected end value exceeds $6,000,000, providing exceptional upside in one of Long Beach's hottest rental markets.
Conservatively underwritten profits of $1.2M+ make this an ideal low-risk, high-reward investment. Benefit from consistent cash flow during the development process with income from the stabilized 6 existing units. Existing units offset holding costs, while entitled plans minimize entitlement risk.
Situated in Long Beach, a thriving rental market with strong tenant demand and long-term appreciation potential. This property offers the best of both worlds: stable cash flow today and exceptional upside tomorrow. With a clear path to development and substantial projected returns, this is an opportunity that investors and developers alike will not want to miss. ***OWNER FINANCING OPTIONS***LET'S GET CREATIVE***

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR3S

Interior

Fireplace No

Laundry Washer Hookup, Electric Dryer Hookup

Exterior

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Curbs, Sidewalks

Total Parking Spaces 5

Private Pool No

Building

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

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

Read Less Info
CRMLS – RECore
Listed by JENNIFER MENDOZA EXP REALTY OF CALIFORNIA INC agentjennifermendoza@gmail.com

MORTGAGE CALCULATOR

Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.
$
$
%
%
Advanced
Payment
Schedule
Your mortgage payments over 30 years will add up to $0.
 
Serving Southern California

Custom Quick Search Tools To Explore Nearby Zip Codes, Cities & Neighborhoods In Your Preferred Destinations

There are 30 quick searches
 
Serving Arizona
Custom Quick Search Tools To Explore Nearby Zip Codes, Cities & Neighborhoods In Your Preferred Destinations
More