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$ 2,595,000
Est. payment | /mo
2 Beds
1 Bath
6,534 Sqft Lot
$ 2,595,000
Est. payment | /mo
2 Beds
1 Bath
6,534 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID OC26214397
Bedrooms 2
Lot Size 6,534 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
3121 East 5th Street is a 5-unit multifamily investment property located in Long Beach, California. Constructed in 1930 and known as Casa Valencia, the property features a unit mix of five 2-bed/1-bath residences totaling 5,822 square feet. Four of the units offer approximately 1,242 square feet of living space, while the fifth totals approximately 854 square feet. Four single-car garages and four surface space provide an attractive parking ratio. Casa Valencia retains a collection of original Spanish Revival details that distinguish the property from more conventional apartment inventory. Architectural features include plaster barrel-vaulted ceilings, curved archways and period Spanish Revival fixtures, complemented by oak flooring and dedicated dining rooms in 4 of the 5 residences. Ownership has renovated 2 of the 5 units with new kitchens, stainless-steel appliances and in-unit washer/ dryers while also completing electrical and exterior improvements throughout the property. Most notably, Unit 3127, the renovated 1,242-square-foot residence, currently rents for $3,495 per month, compared with approximately $1,770 to $2,528 for the three remaining residences of the same size. This in-place performance provides a clear benchmark for the propertys value-add potential as the remaining units are improved over time. Located in Long Beachs 90814 ZIP, Casa Valencia places residents near Fourth Streets Retro Row, Bluff Park and the coastline, with convenient access to Belmont Shore, Downtown Long Beach and the surrounding areas dining, shopping and recreational destinations. Tog
Location
State CA
County Los Angeles
Zoning Assessor
Direction Cross Streets of East 5th Street & Molino Avenue
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7257006027
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Tyler Leeson, DRE#01451551 Marcus & Millichap RE Invest
Nearby Locations
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Krystal Lane
Partner Lic# 1918284