334 W 5th Street,Long Beach, CA 90802
Long Beach, CA 90802
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.
Details
| MLS# | SB25062688 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1923 |
| Days On Site | 33 |
| Listing Provided By | Buckingham Investments, Inc 310 982-7055 | Anthony Walker |
Features
| SQ Feet | 2,688 |
|---|---|
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 1 |
| Zoning | LBPD10 |
| Acreage | 0.05 |
| Property View | None |
Market Activity 90802
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90802 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | Downtown (DT) |
| Listing VS Median (in Downtown (DT)) | |
Price: $1,050,000 low | high Med: $576,500 SqFt: 2,688 low | high Med: 853 $ / SqFt: $391 low | high Med: $694 On site: 33 low | high Med: 40.000000 | |