3121 E 5th #5, Long Beach, CA 90814
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3121 E 5th #5, Long Beach, CA 90814
3121 E 5th #5, Long Beach, CA 90814
3121 E 5th #5, Long Beach, CA 90814
3121 E 5th #5, Long Beach, CA 90814
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Price Dropped by $340K

3121 E 5th #5 Long Beach, CA 90814

6,751 Sqft Lot


UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Bluff Park (Blf)

MLS Listing ID PW26116533

HOA Y/N No

Year Built 1930

Lot Size 6,751 Sqft

Lot Dimensions Assessor

Property Sub-Type Apartment

Property Description

Amazing! Listing price reduced $340K. Well maintained Mediterranean 5 plex is just blocks to the beach. Popular rental residential area. All units are 2 BR/1BA. 4 units are 1242 sqft and the unit above the detached 4 single car garages is 854 sqft. As the owners upgraded units, they preserved many original, ornate features such as tile work, arched openings to dining rooms, coved ceilings and polished hardwood floors. Common area laundry room. Unit #3127 will remain not rented. With the actual current rents + 1 vacancy, the CAP rate is 4.8%. Potential upside is high for investors with building improvement in mind. Potential pro-forma rent total is $152,400 and NOI can be $127,089. Potentially 6.4% CAP rate and 13 GX. It is a fantastic investment opportunity.

Location

State CA

County Los Angeles

Area 2 - Belmont Heights, Alamitos Heights

Zoning LBR2N

Interior

Interior Features Laminate Counters, Unfurnished

Heating Natural Gas

Cooling None

Flooring Laminate, Wood

Fireplaces Type None

Fireplace No

Appliance Water Heater

Laundry Common Area

Exterior

Parking Features Door-Single, Driveway, Garage

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Biking, Street Lights, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Amenities Available Water

View Y/N No

View None

Roof Type Flat

Accessibility None

Total Parking Spaces 5

Private Pool No

Building

Lot Description Paved

Faces South

Story 2

Entry Level Two

Sewer Public Sewer, Sewer Tap Paid

Water Public

Architectural Style Mediterranean

Level or Stories Two

New Construction No

Others

HOA Fee Include Sewer

Senior Community No

Tax ID 7257006027

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Trust


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Listed by Ikumi Baker Remco - A. R. E. & Mgmt. Co. 562-310-0490, DRE #00879343
Gabby Hanson

Gabby Hanson

Realtor & Team Lead | License ID: 01761693

+1(951) 488-8025

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3121 E 5th #5