$2,000,000
SOLD AUG 12, 2025

5290 E Division St Long Beach, CA 90803

Belmont Shore Neighborhood
-- Bed
3 Baths
2,712 Sq Ft
3,485 Sq Ft Lot

Recently Sold

$737 Per Sq Ft

7% Below List Price

2 Days on Market

Highlights

  • Corner Lot
  • Naples Bayside Academy Rated A
  • Laundry Room

About This Home

As of August 2025

Income and expense are using projected market rents and put property operating at projected 5.48% Cap and 12.4X Gross (Estimated current 4.34% and 14.4X). Located in the affluent community of Belmont Shore, a Southern California beach community and “college town” being just a few minutes from CSU Long Beach. Both buildings (also for sale with 102 Argonne 10U for $2,750,000) are meticulously cared for, and both have been upgraded with copper plumbing, and most unit interiors have been upgraded. The investment provides the opportunity to increase your return by increasing the rents to market and separate metering the building utilities, therefore, providing immediate lower overhead/increased cash flow and continued added value in the future with rising utility costs being transferred to the tenants. Laundry is leased and managed by a 3rd party offering further income upside by canceling the contract and installing your own machines. Some units may be rented at amounts different than current income rent roll. Insurance rates may not be current rate for new owner, so buyer must get own insurance quotes including flood insurance if needed. Street parking only.

Last Agent to Sell the Property

AJ Nay

AJ Nay, Broker Brokerage Phone: 305-433-3300 License #01249470 Listed on: 04/28/2025

Last Buyer's Agent

Alec Kara

Keller Williams Pacific Estate License #02030808

Keller Williams Pacific Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1952

Lot Details

  • 3,485 Sq Ft Lot
  • Two or More Common Walls
  • Corner Lot

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 3 Bathrooms
  • 2,712 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Listing and Financial Details

  • Legal Lot and Block 2 / 37
  • Tax Tract Number 3885
  • Assessor Parcel Number 7247011015

Community Details

Overview

  • 2 Buildings
  • 8 Units
  • Belmont Shore Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $2,421
  • Insurance Expense $7,800
  • Maintenance Expense $7,485
  • Water Sewer Expense $5,269
  • New Taxes Expense $27,950
  • Operating Expense $50,925
  • Gross Income $148,800
  • Net Operating Income $117,855

Property Details

Home Type

Multi-Family

Year Built

Built in 1952

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.48
  • Property Attached: Yes
  • Subdivision Name Other: Belmont Shore (BSD)
  • Water Sewer Expenses: 5269.00
  • Zoning: LBR2S
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7247011015
  • Year Built: 1952
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 737.46

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking: No

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 3485.00
  • Lot Size Acres: 0.0800
  • Latitude Manual: 33.75751700

Rental Info

  • Tenant Pays: None

Multi Family

  • Electric Expense: 2421.00
  • Gross Income: 148800.00
  • Gross Multiplier: 12.40
  • Gross Operating Income: 168780.00
  • Gross Scheduled Income: 174000.00
  • Insurance Expense: 7800.00
  • Lot Size Area: 3485.0000 Square Feet
  • Maintenance Expense: 7485.00
  • Net Operating Income: 117855.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 50925.00
  • Rent Control: Yes
  • Total Actual Rent: 12400.00
  • Total Expenses: 50925.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 27950.00
  • Tax Block: 37
  • Tax Census Tract: 5773.00
  • Tax Lot: 2
  • Tax Tract Number: 3885

Range of Values:

--
Value Increase
--
Percent Increase
--
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
08/12/2025 08/12/25 Sold $2,000,000 -7.0% $737 / Sq Ft
04/30/2025 04/30/25 Pending -- -- --
04/28/2025 04/28/25 For Sale $2,150,000 -- $793 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2025

    AJ Nay

    AJ Nay, Broker

    (562) 301-5899

    2 in this area

    7 Total Sales

    AJ Nay
    Section Image
  • Alec Kara

    Buyer's Agent in 2025

    Alec Kara

    Keller Williams Pacific Estate

    (562) 513-7800

    3 in this area

    15 Total Sales

    Alec Kara
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25090414

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

5290 E Division St, Long Beach, CA

Sold

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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