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1052 5th Street
Long Beach, CA 90802
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.
PROPERTY INFORMATION
| MLS # | PW24189803 | Lot Size | 8,922 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Quadruplex |
| Price | $ 1,600,000
Price Per SqFt: $ 468 |
DOM | 237 Days |
| Address | 1052 5th Street | Type | Residential |
| City | Long Beach | Sq.Ft. | 3,421 Sq. Ft. |
| Postal Code | 90802 | Garage | N/A |
| County | Los Angeles | Year Built | 1923 |
| Bed / Bath | 10 / 5 | Parking | 2 |
| Built In | 1923 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Inside |
| Has Fireplace | No |
| Fireplace Information | None |
| Room Information | Kitchen, Living Room |
| Has Cooling | No |
| Cooling Information | None |
| EntryLocation | 1 |
| Entry Level | 1 |
| Bathroom Information | Bathtub, Shower, Shower in Tub |
| Main Level Bedrooms | 10 |
| Main Level Bathrooms | 5 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,707
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 09/13/2024 | Listed | $1,600,000 |
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Listing provided courtesy of Jeff Anderson, eXp Realty of California Inc. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
