CA > Long Beach
Long Beach, CA 90802,1048 E 5th Street
Long Beach, CA 90802,1048 E 5th Street
Long Beach, CA 90802,1048 E 5th Street
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$2,750,000
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11,338 SqFt
Active

1048 E 5th Street Long Beach, CA 90802

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Disen Cai

Disen Cai

+1(650) 622-2156

UPDATED:

03/06/2025 10:44 AM

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 11,338 sqft

Price per Sqft $242

MLS Listing ID CRIV24250595

HOA Y/N No

Year Built 1915

Lot Size 0.341 Acres

Acres 0.34

Property Sub-Type Other

Property Description

***Prime Investment Opportunity***Entitled 11-Unit Development with Existing Cash Flow in Long Beach This is a rare and highly attractive opportunity to acquire a stabilized 6-unit multifamily property situated on an oversized lot already entitled for an additional 5 units—bringing the total future unit count to 11 units. Upon completion, the project is projected to be valued at over $6,000,000, making this a compelling investment with significant upside potential. Key Highlights: Turnkey Existing Units: 5 of 6 units fully renovated with brand-new systems throughout the property, ensuring minimal immediate capital expenditures. Unit Mix (Existing 6 Units): (4) 1 Bed / 1 Bath (1) 2 Bed / 1 Bath (1) 2 Bed / 2 Bath Entitled 5 Additional Units: Development-ready plans for modern units: (2) 3 Bed / 2 Bath units with grade-level parking (3) 4 Bed / 3 Bath townhome-style units, also with grade-level parking Financial Performance: Stabilized Gross Income: Projected to generate nearly $37,000 per month upon full build-out. Strong Cap Rate: Stabilized at a 6.75% Cap Rate on cost. Attractive GRM: Achieves a 10.74 GRM on cost, underscoring strong investment fundamentals. Significant Profitability: Projected end value exceeds $6,000,000, providing exceptional upside in one of Long Beach’s

Location

State CA

County Los Angeles

Zoning LBR3

Interior

Fireplace No

Laundry Other

Building

Sewer Public Sewer

Water Public

New Construction No

Others

Tax ID 7266009015

Bridge MLS
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by JENNIFER MENDOZA • EXP REALTY OF CALIFORNIA INC

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Disen Cai

Agent | License ID: 01928373

+1(650) 622-2156

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