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$1,600,000
1052 E 5th ST Long Beach, CA 90802
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$1,600,000
Est. payment /mo
8,921 Sqft Lot
Active
1052 E 5th ST Long Beach, CA 90802
UPDATED:
09/30/2024 06:14 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW24189804
HOA Y/N No
Year Built 1923
Lot Size 8,921 Sqft
Property Description
Welcome to 1052 East 5th Street, a North Alamitos Beach Bungalow Court with 4 detached homes that are expertly sited around a lushly landscaped central courtyard. The detached separation of each home creates significant privacy and tranquility for each of its residents. With ample outdoor space, every occupant of this enviable compound can enjoy additional exterior square footage that will expand their living space. Located only 5 short blocks away from the ocean, rarely do investment properties deliver such a unique and high-demand unit mix in such a fabulous location. The Front Bungalow offers 3 bedrooms, 1 bathroom, washer and dryer, private front porch and direct access to the backyard – Bungalow A offers 3 bedrooms, 2 bathrooms, including a primary bedroom suite with attached bathroom, grassy front yard and washer and dryer – Bungalow B offers 2 bedrooms, 1 bathroom and vaulted ceilings – Bungalow C offers 2 bedrooms, 1 bathroom, front porch, washer and dryer and historic architectural details. This heritage investment property has been thoroughly upgraded and its current steward has spent over $200,000 in updates complete with modern kitchens, contemporary bathrooms and numerous systems upgrades. Parking concerns are alleviated with substantial off-street parking that generate additional monthly income of $180 per month. The magic of this property is undeniable and has resulted in long-term stable tenants that display clear pride in their homes. While vacancy has been limited historically, the largest home (Bungalow A!!!) is expected to be vacant soon which makes this a strong and viable option for an owner occupant who wishes to purchase an investment property, take advantage of owner-occupied financing (only 5% down!!!) and leverage the rental income from the additional 3 units and parking spaces ($!!!). Local area investment has been impressive with a newly built 6-unit building next door, street infrastructure improvements on adjacent Cerritos Ave and an extensive list of improvements occurring at the Franklin Classical Middle School. With simple access to Retro Row, the Broadway Corridor, Bixby Park, Bluff Park and the Paths along the Pacific Ocean, the magnitude of this location is undeniable. With its dynamic unit mix, numerous contemporary upgrades, supreme layout, magical outdoor space and prime location, this investment property presents a rare opportunity to attain a crown jewel.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Fireplace No
Laundry None
Exterior
Garage Driveway
Pool None
Community Features Sidewalks
Accessibility Parking
Parking Type Driveway
Total Parking Spaces 2
Private Pool No
Building
Lot Description Near Public Transit
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7266009025
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Jeff Anderson • eXp Realty of California Inc • 800-784-2616