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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$2,795,000

Est. payment - /mo

3,672 Sqft Lot

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UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Naples (Na)

MLS Listing ID PW26180111

HOA Y/N No

Year Built 1952

Lot Size 3,672 Sqft

Property Sub-Type Apartment

Property Description

We are proud to present 5711 East 2nd Street, a boutique 8-unit multifamily property in the heart of Naples Island, one of Long Beach's most exclusive waterfront enclaves and among the most supply-constrained residential submarkets in Southern California. Offered at $2,795,000, or $349,375 per unit, the asset pairs in-place cash flow with meaningful rental upside in a community defined by scarcity: a fully built-out cluster of canal-ringed islands where new multifamily supply is effectively nonexistent and renter demand is anchored by an irreplaceable waterfront lifestyle. The property sits on the 2nd Street corridor at Ravenna Drive, steps from the Naples canals and Alamitos Bay, roughly a mile from the Belmont Shore business district, and about a mile from 2nd & PCH, a newer Whole Foods–anchored open-air shopping and dining development. The property comprises seven one-bedroom units and one two-bedroom unit. In-place rents sit approximately 21% below the operator's estimate of market, giving an incoming owner a clear runway to income growth as units are brought to market on turnover. Recent capital investment further de-risks the offering: the roof was professionally inspected and repaired in 2024 with an estimated ten years of remaining useful life, and the building's electrical system was inspected and upgraded across 2024 and 2025. The property is currently master-metered for both gas and electric, presenting a potential opportunity for a new owner to explore submetering or a utility bill-back (RUBS) program as an additional lever for income growth, subject to feasibility. The on-site laundry facility is owned, adding an ancillary income stream that conveys with the property. For an investor, 5711 East 2nd Street offers a rare entry point into one of Long Beach's most prestigious and expensive coastal addresses, a market where limited rental product serves a deep, affluent renter base, and the opportunity to capture embedded rent growth in one of Southern California's most resilient waterfront rental markets.

Location

State CA

County Los Angeles

Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 1.0

Garage Description 1.0

Pool None

Community Features Sidewalks

Total Parking Spaces 2

Private Pool No

Building

Lot Description Irregular Lot

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7243001022

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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Listed by Christopher Walker Triqor Group chris.walker@triqorgroup.com, DRE #01905338

NEARBY SCHOOL & BUSINESS

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5711 E 2nd Long Beach, CA 90803