CA > Long Beach
Long Beach, CA 90802,1048 E 5th ST
Long Beach, CA 90802,1048 E 5th ST
Long Beach, CA 90802,1048 E 5th ST
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Sharad Gupta

Sharad Gupta

+1(408) 401-1003
Listed by JENNIFER MENDOZA • EXP REALTY OF CALIFORNIA INC
$2,750,000
Est. payment /mo
0.34 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRIV24250595

Originating Board California Regional MLS

Year Built 1915

Lot Size 0.341 Acres

Property Description

***Prime Investment Opportunity***Entitled 11-Unit Development with Existing Cash Flow in Long Beach This is a rare and highly attractive opportunity to acquire a stabilized 6-unit multifamily property situated on an oversized lot already entitled for an additional 5 units-bringing the total future unit count to 11 units. Upon completion, the project is projected to be valued at over $6,000,000, making this a compelling investment with significant upside potential. Key Highlights: Turnkey Existing Units: 5 of 6 units fully renovated with brand-new systems throughout the property, ensuring minimal immediate capital expenditures. Unit Mix (Existing 6 Units): (4) 1 Bed / 1 Bath (1) 2 Bed / 1 Bath (1) 2 Bed / 2 Bath Entitled 5 Additional Units: Development-ready plans for modern units: (2) 3 Bed / 2 Bath units with grade-level parking (3) 4 Bed / 3 Bath townhome-style units, also with grade-level parking Financial Performance: Stabilized Gross Income: Projected to generate nearly $37,000 per month upon full build-out. Strong Cap Rate: Stabilized at a 6.75% Cap Rate on cost. Attractive GRM: Achieves a 10.74 GRM on cost, underscoring strong investment fundamentals. Significant Profitability: Projected end value exceeds $6,000,000, providing exceptional upside in o

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Laundry 30, 9

Exterior

Garage Spaces 5.0

Pool None

Building

Water District - Public

Others

Tax ID 7266009015

Special Listing Condition Not Applicable

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agent
Sharad Gupta

Broker | License ID: 02213637

+1(408) 401-1003

5201 Great America Pkwy, Santa Clara, CA, 95054, USA

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