Seller's Agent in 2021
Tyler Luckey
Compass
(562) 254-1325
1 in this area
48 Total Sales
509 E 5th St Long Beach, CA 90802
East Village Neighborhood
4
Beds
5
Baths
4,666
Sq Ft
7,503
Sq Ft Lot
Highlights
- 0.17 Acre Lot
- Private Yard
- No HOA
- Long Beach Polytechnic High School Rated A
About This Home
As of February 2021We are pleased to announce the listing of 509-519 E. 5th St 7-unit apartment community located in Long Beach, California. A perfect downtown Long Beach investment property. Totally TURN KEY with 7 unique units located in the heart of a fast growing and invigorating city and only 5 blocks to the beach. This property provides the right investor an opportunity to acquire a turnkey asset that has had extensive repairs and renovations. This exciting location falls within the PD-30 Plan for downtown and located in the height incentive area for future investors to build up! There are 4 large one bedroom one bath with a lovely balance of upgrades located on the front side of the property. A separate 2 bedroom 1 bath house, stand alone unit, in the middle of the property (the only unit that could use some upgrades.) The last two units are adorable studio apartments located above the 4 single car garages in the back of the property. A courtyard separates the three structures making a great area to rest and play outside. This investment property has it all. Close to THE PIKE, shoreline drive, the art district, the promenade and easy freeways. The property has been in the family trust for many years, with long term tenants and exceptionally low rents for the area. Great opportunity for a 10-31 exchange!!
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1921
Lot Details
- 7,503 Sq Ft Lot
- Lot Dimensions are 150 x 50
- Two or More Common Walls
- Private Yard
Parking
- 4 Car Garage
- Parking Available
- Rear-Facing Garage
Home Design
- 4,666 Sq Ft Home
- Apartment
Bedrooms and Bathrooms
- 4 Bedrooms
- 5 Bathrooms
Listing and Financial Details
- Legal Lot and Block 20 / 52
- Tax Tract Number 5762
- Assessor Parcel Number 7281002009
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 7 Units
Building Details
- 7 Leased Units
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 7 Separate Water Meters
- Electric Expense $500
- Insurance Expense $1,500
- Professional Management Expense $5,200
- New Taxes Expense $18,000
- Operating Expense $25,700
- Gross Income $81,216
- Net Operating Income $55,516
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/25/2021 02/25/21 | Sold | $1,600,000 | 0.0% | $343 / Sq Ft |
| 02/05/2021 02/05/21 | Pending | -- | -- | -- |
| 02/03/2021 02/03/21 | For Sale | $1,600,000 | -- | $343 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $26,624 | $2,075,598 | $1,295,298 | $780,300 |
| 2024 | $26,624 | $2,034,900 | $1,269,900 | $765,000 |
| 2023 | $22,062 | $1,664,640 | $1,040,400 | $624,240 |
| 2022 | $20,712 | $1,632,000 | $1,020,000 | $612,000 |
| 2021 | $2,424 | $100,055 | $53,879 | $46,176 |
| 2020 | $2,417 | $99,315 | $53,327 | $45,988 |
| 2019 | $2,390 | $97,374 | $52,282 | $45,092 |
| 2018 | $2,238 | $95,471 | $51,257 | $44,214 |
| 2016 | $2,051 | $91,491 | $49,267 | $42,224 |
| 2015 | $1,994 | $90,117 | $48,527 | $41,590 |
| 2014 | $2,026 | $88,353 | $47,577 | $40,776 |
Source: Public Records
Agents Affiliated with this Home
-
Tyler Luckey
-
Pam Luckey
Seller Co-Listing Agent in 2021
Pam Luckey
Compass
(562) 307-4367
1 in this area
54 Total Sales
-
Anthony Walker
Buyer's Agent in 2021
Anthony Walker
Buckingham Investments, Inc
(310) 982-7055
2 in this area
91 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW21020669
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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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