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Nicole Darwin

nicole.darwin@engelvoelkers.com +1(707) 330-4357

$ 1,050,000

Est. payment -/mo

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334 W 5th ST Long Beach, CA 90802

1,999 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID SB25062688

HOA Y/N No

Year Built 1923

Lot Size 1,999 Sqft

Property Sub-Type Quadruplex

Property Description

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.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBPD10

Interior

Interior Features Built-in Features

Heating Wall Furnace

Cooling None

Flooring Laminate

Fireplaces Type None

Fireplace No

Appliance Gas Range

Laundry None

Exterior

Parking Features None

Pool None

Community Features Urban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Accessibility None

Private Pool No

Building

Lot Description Rectangular Lot

Faces Northeast

Story 2

Entry Level Two

Foundation Raised

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7280011005

Energy Description 581.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

Listed by Anthony Walker • Buckingham Investments, Inc • 310-561-4776

Nicole Darwin

Advisor

+1(707) 330-4357

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