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531 5th Street
Long Beach, CA 90802
Sold
531 W 5th Street is a 7-unit apartment complex located in Los Angeles County’s rapidly growing Long Beach Market. Consisting of (1) detached 3 bedroom/ 1 bath home and (6) Studios with full kitchens and large baths. The property features 4 newly constructed garages with three storage units and (1) 2 car garage. Offering an investor the opportunity to acquire a true value-add asset with over 54% in rental upside. All tenants are on month-to-month leases. Access to commuting freeways and core job markets continues to make this location irreplaceable. A future investor will enjoy long-term upside with this asset, due to a continued shortage of apartment housing and lack of affordability in single-family homes in Southern California.
PROPERTY INFORMATION
| MLS # | NP24025759 | Lot Size | 7,518 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 1,250,000
Price Per SqFt: $ 374 |
DOM | 457 Days |
| Address | 531 5th Street | Type | Residential Income |
| City | Long Beach | Sq.Ft. | 3,344 Sq. Ft. |
| Postal Code | 90802 | Garage | 5 |
| County | Los Angeles | Year Built | 1905 |
| Bed / Bath | 3 / 0 | Parking | 5 |
| Built In | 1905 | Status | Closed |
| Sold Date | 2024-03-21 |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
| EntryLocation | First Level |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
Walk Score: 90 (Very Walkable)
Transit Score: 72 (Excellent Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,333
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 03/21/2024 | Sold | $975,000 |
| 03/12/2024 | Pending | $1,250,000 |
| 02/05/2024 | Listed | $1,250,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Kacey Taormina, Compass. 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.
