1721-1723 5Th St, Long Beach, CA 90802
2 Unit Apartment Building | $949,000 ($474,500/Unit) | 4.74% Cap Rate | Long Beach, CA 90802
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $949,000
- Property Type
-
Multifamily
- Square Feet
- 1,522 SF
Listing Contacts
Blake Talin
Verified Profile
Kevin King
Verified Profile
Ryan Gonzalez
Verified Profile
- Property Info
Property Overview
OPEN HOUSE: 8/17/2024 12-3 PM. Marcus & Millichap is pleased to present a 2-unit multifamily property located just blocks away from the highly desirable and vibrant Alamitos Beach area. The subject property, built in 1936, consists of 1,522 rentable square feet spread throughout a 5,132 square-foot lot. The building consists of a 3-Bedroom/2-Bathroom front house and one 1-Bedroom / 1-Bathroom unit. The property underwent full interior upgrades including new vinyl flooring, interior paint, updated appliances, shaker cabinets, and granite countertops. Located blocks from the 4th Street Corridor, commonly referred to as Retro Row, and Alamitos Beach, tenants enjoy living a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters, and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.
Property Details
- Class
- C
- Year Built
- 1936
- Stories
- 1
- Lot Size (sq. ft)
- 5,227 SF
- Units
- 2
Highlights
- Building to be delivered 100% vacant
- Potential Garage Conversion to 1 bed 1 bath ADU
- Recent renovations include, but not limited to, vinyl flooring, granite countertops, updated appliances, wooden shaker cabinets & fresh paint
- Ideal Investment For Owner-Use to Live In One Unit and Rent the Other
- Exterior Renovations Include New Paint, New Gate and Updated Landscaping
- 2 Garage Parking Spots Plus 2 Designated Covered Parking Spots
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