Seller's Agent in 2023
Ling Beh
RealiFi Realty, Inc.
(626) 487-8827
2 in this area
98 Total Sales
1001 E 5th St Unit 5 Long Beach, CA 90802
North Alamitos Beach Neighborhood
6
Beds
5
Baths
3,544
Sq Ft
6,167
Sq Ft Lot
Highlights
- 0.14 Acre Lot
- No HOA
- Laundry Room
- Long Beach Polytechnic High School Rated A
- Cooling Available
- Rectangular Lot
About This Home
As of July 2023OVER 8.2 Cap! According to the Los Angeles Times, Long Beach is set to host seven Olympic events in 2028 when the Summer Games come to Los Angeles. This stunning five-unit income property in Long Beach combines Spanish Colonial Coastal Hacienda charm with the energy of downtown Long Beach, making it an excellent investment opportunity. Located in a prime location near all the exciting downtown development projects, the property boasts desirable outdoor common space, making it an attractive option for tenants seeking a beach city lifestyle with a mix of metropolitan amenities.
The property is fully gated, providing both front and rear access and direct garage access to a secure area, making it a rare find. The landlord can maximize rents by including electricity in the cost, thanks to the solar panels installed on the property. The units have been completely remodeled and rewired, with new plumbing and windows installed throughout. All kitchens and bathrooms have been completely renovated, and each unit features AC with permits. The property also has four garages, offering ample parking space.
The location is perfect for those looking to enjoy the best of Long Beach's outdoor activities and events, including the Acura Grand Prix of Long Beach, X Games, World Surf League's pro Longboard Tour, as well as music festivals and outdoor concerts. In preparation for the 2028 Olympics, Long Beach is building a new aquatic center on the beach called the Belmont Beach and Aquatic Center. This new facility will serve as a focal point for the Long Beach aquatic competition community and will feature two 50-meter competition pools, recreational and teaching pools, therapeutic whirlpools, diving platforms, springboards, and deep water wells. The outdoor areas will include a park, walk-up restaurant, and landscaped plazas that make the most of Southern California's sunny weather and beach setting.
Property Details
Home Type
- Apartment
Year Built
- Built in 1929
Lot Details
- 6,167 Sq Ft Lot
- No Common Walls
- Rectangular Lot
Parking
- 4 Car Garage
- Parking Available
- Assigned Parking
Interior Spaces
- 3,544 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 6 Bedrooms
- 5 Bathrooms
Utilities
- Cooling Available
- Heating Available
- Natural Gas Connected
Additional Features
- Exterior Lighting
- Suburban Location
Listing and Financial Details
- Tenant pays for gas, trash collection, water
- Tax Lot 14
- Tax Tract Number 11933
- Assessor Parcel Number 7266007026
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 5 Units
- Alamitos Beach Subdivision
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 5 Separate Water Meters
- Gardener Expense $960
- Insurance Expense $2,246
- Maintenance Expense $2,890
- Other Expense $3,459
- Professional Management Expense $7,080
- New Taxes Expense $23,930
- Operating Expense $40,565
- Gross Income $136,000
- Net Operating Income $95,435
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/05/2023 07/05/23 | Sold | $1,670,000 | +1.2% | $471 / Sq Ft |
| 05/04/2023 05/04/23 | Pending | -- | -- | -- |
| 04/24/2023 04/24/23 | Price Changed | $1,650,000 | -8.3% | $466 / Sq Ft |
| 03/28/2023 03/28/23 | For Sale | $1,800,000 | -- | $508 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Ling Beh
-
Nina Le
Buyer's Agent in 2023
Nina Le
Buckingham Investments, Inc
(818) 415-9362
1 in this area
12 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV23051247
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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