509 E 5th St, Long Beach, CA 90802

Property Description

We 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!!