3121 E 5th 5, Long Beach, CA 90814
List Price: $1.99M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1930
Lot Size: 6,753 sq ft
Garage Spaces: 4
Private Pool: Yes
MLS Number: PW26116533
About This Property
Well maintained Mediterranean 5 plex is just blocks to the beach. Popular rental residential area. All units are 2 BR/1BA. 4 units are 1242 sqft and the unit above the detached 4 single car garages is 854 sqft. As the owners upgraded units, they preserved many original, ornate features such as tile work, arched openings to dining rooms, coved ceilings and polished hardwood floors. Common area laundry room. Unit #3127 will remain not rented. With the actual current rents + 1 vacancy, the CAP rate is 4.8%. Potential upside is high for investors with building improvement in mind. Potential pro-forma rent total is $152,400 and NOI can be $127,089. Potentially 6.4% CAP rate and 13 GX. It is a fantastic investment opportunity.
Listing provided by: Ikumi Baker DRE #00879343 562-494-3805 ikumi@REMCOrealestate.net, Remco - A. R. E. & Mgmt. Co.
Source: CRMLS, MLS #: PW26116533
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.