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611 5th Street
Long Beach, CA 90802
Sold
Opportunity of a lifetime! This property has 4 units with 3 bedrooms each, and 1.5 baths each. It is currently rented as a transitional facility, renting to low income tenants who are transitioning to more permanent housing. Almost like an SRO or Single Room Occupancy property. Each of the 12 bedrooms contain 2 single beds, currently renting for $550 per month for each bed. THE ACTUAL RENTS ARE BASED ON HOW MANY BEDS ARE FILLED PER MONTH. FINANCIAL CALCULATIONS ARE PROJECTED BASED ON SECTION 8 RENT VOUCHER AMOUNTS FOR SRO'S. The complex has a laundry room in one of the 2 garages and one extra parking space. Laundry room is located in one of the garages, and has 3 washers and 2 dryers. Seller pays all utilities including WiFi and cable. One block from City Hall, and Close access to Downtown, The Pike, Civic Center Project, Queen Mary Island Development, Aquarium of the Pacific, and the beach, allows tenants to enjoy everything Long Beach has to offer. This beautiful property already features your income producing business. Located in the Downtown Long Beach, Alamitos Beach neighborhood, with an impressive walk score of 88, transit score of 71 and bike score of 82, making all that downtown Long Beach has to offer easily accessible. Close access to The Pike, Civic Center and City Hall, Queen Mary Island Development, Aquarium of the Pacific, Cesar Chavez Park, and the beach, allows tenants to enjoy everything Long Beach has to offer. Please keep in mind that the projected rents vary according to how many beds are filled. The property is in the process of getting an exterior facelift.
PROPERTY INFORMATION
| MLS # | 23288545 | Lot Size | 5,009 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,575,000
Price Per SqFt: $ 392 |
DOM | 667 Days |
| Address | 611 5th Street | Type | Residential Income |
| City | Long Beach | Sq.Ft. | 4,020 Sq. Ft. |
| Postal Code | 90802 | Garage | 2 |
| County | Los Angeles | Year Built | 1966 |
| Bed / Bath | 12 / 0 | Parking | 2 |
| Built In | 1966 | Status | Closed |
| Sold Date | 2023-09-12 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Washer Included, Dryer Included, See Remarks, In Garage |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | Yes |
| Kitchen Appliances | Microwave, Refrigerator |
| Has Cooling | No |
| Cooling Information | None |
| Flooring Information | Carpet |
| InteriorFeatures Information | Furnished |
| Has Spa | No |
| SpaDescription | None |
| SecuritySafety | Gated Community |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,680
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/11/2023 | Listed | $1,575,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Soraya Machado-Powell, Vylla Home, 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.
