334 W 5th Street
Long Beach, CA 90802
0.05 acres | #SB25062688
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.
Property Details
- Utility FeaturesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
- InteriorBuiltInFeatures
- Lot DescriptionRectangularLot
- SubdivisionDowntown (DT)
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$1,050,000
- MLS #SB25062688
- Property SubtypeQuadruplex
- MLS #SB25062688
- Cost1050000
- Acres0.0459
- FoundationRaised
- Utility SourcePublic
- Year Built1923
- Stories2
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Anthony Walker (#SBWALKANT)
Listing Office: Buckingham Investments, Inc (#SB1301700)
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