NOT LISTED FOR SALE

5285 E The Toledo Long Beach, CA 90803

Belmont Shore Neighborhood
Studio
1 Bath
3,389 Sq Ft
3,485 Sq Ft Lot

Last Sold May 23, 2024

Last sale price $2,150,000 $634 Per Sq Ft

36 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • Level Lot
  • Lowell Elementary School Rated A-

About This Home

As of May 2024

5285 East The Toledo is a rare 8-unit multifamily investment property located in the prime Belmont Park neighborhood of Long Beach, CA. 5285 East The Toledo offers investors an opportunity to preserve its existing vintage and character, while allowing a new investor to capture upwards of 30% rental upside by modernizing the apartment’s interiors. Situated in a prime Belmont Park location, 5285 East The Toledo offers exclusively studio floor plans measuring approximately 424 square feet. Residents enjoy the property’s idyllic location within walking distance of the abundance of retail, dining, and entertainment options at Belmont Shore’s 2nd Street. The property is also just over 1 mile from 2nd & PCH, a recently developed open-air mall, providing residents with convenient access to a plethora of popular retailers and restaurants. Additionally, 5285 East The Toledo is in close proximity to Marine Stadium, Marina Vista Park, and Alamitos Bay, providing residents with an abundance of recreational opportunities. Furthermore, the property’s close proximity to Pacific Coast Highway provides residents with easy access throughout Long Beach and neighboring coastal cities.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 04/02/2024

Last Buyer's Agent

William Keye

Main Street Realtors License #00690070

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1947

Lot Details

  • 3,485 Sq Ft Lot
  • No Common Walls
  • Level Lot

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 1 Bathroom
  • 3,389 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Outdoor Features

  • Rain Gutters

Listing and Financial Details

  • Legal Lot and Block 3 / 15
  • Tax Tract Number 7029
  • Assessor Parcel Number 7249013038
  • $1,278 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 8 Units
  • Belmont Shore Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,468
  • Fuel Expense $1,468
  • Insurance Expense $4,200
  • Maintenance Expense $4,000
  • Other Expense $9,078
  • Trash Expense $1,468
  • Water Sewer Expense $1,469
  • New Taxes Expense $27,312
  • Operating Expense $46,463
  • Gross Income $141,967
  • Net Operating Income $91,281

Property Details

Home Type

Apartment

Year Built

Built in 1947

Lot Details

0

Listing Details

  • CapRate: 4.16
  • Property Attached: No
  • Subdivision Name Other: Belmont Shore (BSD)
  • Water Sewer Expenses: 1469.00
  • Zoning: LBR4R
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7249013038
  • Year Built: 1947
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 634.41

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 1468.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 3484.80
  • Lot Size Acres: 0.0800

Multi Family

  • Electric Expense: 1468.00
  • Fuel Expense: 1468.00
  • Gross Income: 141967.00
  • Gross Multiplier: 15.46
  • Gross Operating Income: 136544.00
  • Gross Scheduled Income: 140767.00
  • Insurance Expense: 4200.00
  • Lot Size Area: 0.0800 Acres
  • Maintenance Expense: 4000.00
  • Net Operating Income: 91281.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 46463.00
  • Operating Expense Percent: 33.70
  • Other Expense: 9078.00
  • Other Expense Description: Misc
  • Other Income1: 1200.00
  • Other Income Description: Misc
  • Rent Control: No
  • Total Expenses: 46463.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 27312.00
  • Tax Block: 15
  • Tax Census Tract: 5774.00
  • Tax Lot: 3
  • Tax Tract Number: 7029
  • TaxOtherAnnualAssessmentAmount: 1278.00

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/23/2024 05/23/24 Sold $2,150,000 -2.1% $634 / Sq Ft
05/08/2024 05/08/24 Pending -- -- --
04/24/2024 04/24/24 Price Changed $2,195,000 -2.4% $648 / Sq Ft
04/02/2024 04/02/24 For Sale $2,250,000 -- $664 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $13,055 $2,193,000 $1,173,000 $1,020,000
2024 $13,055 $945,457 $568,756 $376,701
2023 $12,819 $926,919 $557,604 $369,315
2022 $12,045 $908,745 $546,671 $362,074
2021 $11,781 $890,927 $535,952 $354,975
2019 $11,612 $865,144 $520,056 $345,088
2018 $11,319 $848,194 $509,859 $338,335
2016 $10,426 $814,644 $490,061 $324,583
2015 $10,019 $802,408 $482,700 $319,708
2014 $9,981 $786,691 $473,245 $313,446
Source: Public Records

Agents Affiliated with this Home

  • Tyler Leeson

    Seller's Agent in 2024

    Tyler Leeson

    Marcus & Millichap RE Invest

    (949) 419-3200

    3 in this area

    156 Total Sales

    Tyler Leeson
    Section Image

  • W

    Buyer's Agent in 2024

    William Keye

    Main Street Realtors

    (562) 438-0910

    1 in this area

    40 Total Sales

    William Keye
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC24065252

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90803 Belmont Shore

5285 E The Toledo, Long Beach, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) 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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