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$1,395,000
Est. payment /mo
7,518 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID SB26181225
HOA Y/N No
Year Built 1923
Lot Size 7,518 Sqft
Property Sub-Type Apartment
Property Description
Ideal Owner-User Opportunity Near Downtown Long Beach
531 W 5th St is a 7-unit multifamily investment offering a rare
combination of owner-user flexibility, in-place income, and upside
through previously approved development plans. The property features a vacant
3-bedroom/1-bath front house with a full kitchen, dedicated dining
area, Ring camera, and mini-split system, giving an owner-occupant
the privacy and feel of a standalone home while collecting rental
income from the remaining six units.
At current rents, the property produces a 6.02% cap rate and 10.87
GRM. Previously approved plans are in place for a 3-bedroom/2-bath ADU, which
brings the property to a 8.23% cap rate (including estimated
construction costs) once built, a clear value-add path for an investor
or owner-user looking to grow into the deal. The property also includes
a vacant 5-car garage, which a buyer can lease for parking income or
convert as part of the ADU plan.
Located minutes from Downtown Long Beach, the property is close to
the area's restaurants, bars, shopping, entertainment, waterfront, and
major transportation corridors. Between the private 3-bedroom
residence, six income-producing units, previously approved ADU plans, and a
vacant 5-car garage, 531 W 5th St gives an owner-user or investor
multiple ways to build equity in one property.
531 W 5th St is a 7-unit multifamily investment offering a rare
combination of owner-user flexibility, in-place income, and upside
through previously approved development plans. The property features a vacant
3-bedroom/1-bath front house with a full kitchen, dedicated dining
area, Ring camera, and mini-split system, giving an owner-occupant
the privacy and feel of a standalone home while collecting rental
income from the remaining six units.
At current rents, the property produces a 6.02% cap rate and 10.87
GRM. Previously approved plans are in place for a 3-bedroom/2-bath ADU, which
brings the property to a 8.23% cap rate (including estimated
construction costs) once built, a clear value-add path for an investor
or owner-user looking to grow into the deal. The property also includes
a vacant 5-car garage, which a buyer can lease for parking income or
convert as part of the ADU plan.
Located minutes from Downtown Long Beach, the property is close to
the area's restaurants, bars, shopping, entertainment, waterfront, and
major transportation corridors. Between the private 3-bedroom
residence, six income-producing units, previously approved ADU plans, and a
vacant 5-car garage, 531 W 5th St gives an owner-user or investor
multiple ways to build equity in one property.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Suburban, Sidewalks, Urban
Total Parking Spaces 4
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7278021039
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Special Listing Condition Standard
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Listed by Aaron Jacobson Lyon Stahl Investment Real Estate, Inc. 310-729-1559, DRE #02100737
Nearby School & Business