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HOT 2930 E 5TH ST LONG BEACH, CA 90814
- Townhouse or Condo / Resale (MLS)
Property Details for 2930 E 5TH ST, LONG BEACH, CA 90814
Features
- Price/sqft: $514
- Lot Size: 0.15 acres
- Total Units: 8
- Construction Type: Wood
Facts
- Year Built: 01/01/1963
- Property ID: 894885440
- MLS Number: PW24047730
- Parcel Number: 7257-008-012
- Property Type: Townhouse or Condo
- County: Los Angeles
Description
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
This listing is NOT a foreclosure. We are pleased to present an eight unit multifamily asset located at 2930 E 5th Street in Long Beach, California. Built in 1963, the subject property consists of 6, 702 rentable square feet spread throughout a 0.15 acre lot. The building consists of seven 2-Bedroom / 1- Bathroom units and one 3- Bedroom/ 2-Bathroom unit. Owners enjoy the high demand for rentals in a coastal city of Southern California. Located just off the retro row corridor of 4th street, 2930 E 5th is considered a "walker's paradise" with a "walk score" of 91, ideal for tenants who can easily get to restaurants, shopping, entertainment, and schools by foot. Tenants are also easily able to commute to large employment centers like Downtown Long Beach and CSULB, both just a few miles away. In addition, all of the eight units have been extensively renovated, including, but not limited to, new flooring, new cabinets, new fixtures, new electrical subpanels, and new paint. Those units are achieving top of market rents, demonstrating the viabilty of this asset in a prime Belmont Heights location. 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. This is an excellent opportunity to acquire a quality asset in a great location with strong current income that will provide a stable return.
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Bargain Price Bargain Buy - Save Over 20% The Asking Price for this home is at least 20% below the Estimated Value. Buying a home at a price below the market value can save thousands of dollars and create wealth in home equity faster.
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