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$ 1,395,000
Est. payment /mo
New
531 W 5th Street Long Beach, CA 90802
4 Baths
7,518 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID SB26181225
Lot Size 7,518 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Ideal Owner-User Opportunity Near Downtown Long Beach 531 W 5th St is a 7-unit multifamily investment offering a rare combination of owner-user flexibility, in-place income, and upside through approved development plans. The property features a vacant 3-bedroom/1-bath front house with a full kitchen, dedicated dining area, Ring camera, and mini-split system, giving an owner-occupant the privacy and feel of a standalone home while collecting rental income from the remaining six units. At current rents, the property produces a 6.02% cap rate and 10.87 GRM. Approved plans are in place for a 3-bedroom/2-bath ADU, which brings the property to a 8.23% cap rate (including estimated construction costs) once built, a clear value-add path for an investor or owner-user looking to grow into the deal. The property also includes a vacant 5-car garage, which a buyer can lease for parking income or convert as part of the ADU plan. Located minutes from Downtown Long Beach, the property is close to the area's restaurants, bars, shopping, entertainment, waterfront, and major transportation corridors. Between the private 3-bedroom residence, six income-producing units, approved ADU plans, and a vacant 5-car garage, 531 W 5th St gives an owner-user or investor multiple ways to build equity in one property.
Location
State CA
County Los Angeles
Zoning Assessor
Direction east of Pacific Avenue and west of Magnolia Avenue
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 7278021039
Acceptable Financing Cash, Conventional, Land Contract
Listing Terms Cash, Conventional, Land Contract
Listed by Aaron Jacobson, DRE#02100737 Lyon Stahl Investment Real Estate, Inc.
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