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Listed by Anthony P. Walker • Buckingham Investments, Inc
$1,050,000
Est. payment /mo
2,688 SqFt
Pending
334 West 5th Street Long Beach, CA 90802
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Square Footage 2,688 sqft
Price per Sqft $390
Subdivision Downtown
MLS Listing ID SB-25062688
Year Built 1923
Lot Size 2,001 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
Flooring Laminate
Fireplaces Type None
Laundry None
Exterior
Parking Features None
Pool None
Community Features Urban
Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected
View Y/N No
View None
Building
Lot Description Rectangular Lot
Sewer Public Sewer