CA > Long Beach
Long Beach, CA 90802,1048 E 5th ST
Long Beach, CA 90802,1048 E 5th ST
Long Beach, CA 90802,1048 E 5th ST
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,350,000
Est. payment /mo
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UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID IV25264295

HOA Y/N No

Year Built 1915

Property Sub-Type Multi Family

Property Description

***Immediate Income Opportunity***Value-add 6-unit in Long Beach with permits for 5 additional units + parking. Fully renovated, strong cash flow, and shovel-ready expansion. High upside via development or hold. Contact agent for detailed pro forma and plans.
Rare Long Beach opportunity: a fully stabilized 6-unit multifamily income property (5 of 6 units recently renovated, 6th unit has been updated) offered with approved and paid permits for 5 additional units plus structured parking. The redevelopment plan includes 3 × 4BR/3BA & 2 × 3BR/2BA ADUs above parking — conservatively modeled to generate AN ADDITIONAL $23,000/month in rent once built. Pro-forma NOI (post-build) projects to ~$316,739 on gross schedule income of ~$444,120/year. Permits are in hand, making this a fast-to-market value play. Located near freeway access, top Long Beach dining and shopping corridors, and waterfront attractions. Excellent for investors seeking both strong cash flow and development upside.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry Washer Hookup, Electric Dryer Hookup

Building

Story 2

Water Public

Others

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

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

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