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Long Beach, CA 90814 3025 E 5th Street

$5,995,000

Sold: Apr 23, 2024
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Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
  • MLS# PW23222053
  • 12/07/2023
  • Request Tour
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  • FootageSQFT • 14,584
  • GarageGarage • 10

Home Details

3025 E. 5th Street is a 20-unit apartment asset located just one block from popular Retro Row in Long Beach, California. The property is comprised of (10) 2BD / 2BA units and (10) 1BD / 1BA units surrounding a landscaped courtyard. Fourteen (14) of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers. The ten (10) existing garages offer the opportunity for additional income or for ADU conversion to increase rental income. The property is located in walking distance to vibrant Retro Row with attractive shopping, dining and nightlife amenities.
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916

General for 3025 E 5th Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Buyer FinancingCashtoNewLoan
Cap Rate5.29
Carport Y/NNo
CityLong Beach
Close Price5800000.0
Community FeaturesSidewalks
CountyLos Angeles
Days on Market123
DirectionsE 7th St
Electric Expense13720.0
Entry Location1
Fuel Expense0.0
Garage Spaces10.0
Garage Y/NYes
Gross Income473698.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense13000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet13501.0
MLS Area3 - Eastside, Circle Area
MaintenanceExpense14000.0
MobileHomeRemainsYNNo
Net Operating Income317352.0
New ConstructionNo
Operating Expense156345.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusClosed
StatusClosed
Stories2
Street Name5th
Subdivision NameEastside (ES)
Tax Lot17
Taxes$74,541
Total Units20
Trash Expense0.0
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1961
Year Built SourceAssessor
ZoningLBR2N

Interior for 3025 E 5th Street

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Entry Level1
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesInside
Street SuffixStreet
Total Stories2

Exterior for 3025 E 5th Street

Building Area Total14584.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1620UnitsAcre
Lot Size Acres0.3099
Lot Size Area13501.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters20
Number of Separate Gas Meters20
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking10.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $5,995,000
MLS#PW23222053
List Date 12/07/2023
Property Type Multi-Family
Phone 714.964.3311
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*According to the National Association of Realtors