Long Beach, CA 90802,1001 E 5th ST #5
Long Beach, CA 90802,1001 E 5th ST #5
Long Beach, CA 90802,1001 E 5th ST #5
Long Beach, CA 90802,1001 E 5th ST #5
Long Beach, CA 90802,1001 E 5th ST #5
Long Beach, CA 90802,1001 E 5th ST #5
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$1,670,000

$1,650,000

1.2%
Est.Price: ?

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Est. payment /mo

6,168 Sqft Lot


SOLD DATE : 07/05/2023

Key Details

Sold Price $1,670,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID CV23051247

Sold Date 07/05/23

HOA Y/N No

Year Built 1929

Lot Size 6,168 Sqft

Property Description

OVER 8.2 Cap! According to the Los Angeles Times, Long Beach is set to host seven Olympic events in 2028 when the Summer Games come to Los Angeles. This stunning five-unit income property in Long Beach combines Spanish Colonial Coastal Hacienda charm with the energy of downtown Long Beach, making it an excellent investment opportunity. Located in a prime location near all the exciting downtown development projects, the property boasts desirable outdoor common space, making it an attractive option for tenants seeking a beach city lifestyle with a mix of metropolitan amenities.

The property is fully gated, providing both front and rear access and direct garage access to a secure area, making it a rare find. The landlord can maximize rents by including electricity in the cost, thanks to the solar panels installed on the property. The units have been completely remodeled and rewired, with new plumbing and windows installed throughout. All kitchens and bathrooms have been completely renovated, and each unit features AC with permits. The property also has four garages, offering ample parking space.

The location is perfect for those looking to enjoy the best of Long Beach's outdoor activities and events, including the Acura Grand Prix of Long Beach, X Games, World Surf League's pro Longboard Tour, as well as music festivals and outdoor concerts. In preparation for the 2028 Olympics, Long Beach is building a new aquatic center on the beach called the Belmont Beach and Aquatic Center. This new facility will serve as a focal point for the Long Beach aquatic competition community and will feature two 50-meter competition pools, recreational and teaching pools, therapeutic whirlpools, diving platforms, springboards, and deep water wells. The outdoor areas will include a park, walk-up restaurant, and landscaped plazas that make the most of Southern California's sunny weather and beach setting.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR3S

Interior

Heating See Remarks

Cooling Electric

Fireplace No

Laundry Common Area

Exterior

Garage Assigned

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Street Lights, Suburban

Utilities Available Natural Gas Connected, Sewer Connected, Water Connected

Total Parking Spaces 4

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7266007026

Acceptable Financing Conventional

Listing Terms Conventional

Financing Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by LING BEH • STRIVE REAL ESTATE • 626-487-8827
Bought with Nina Le • Buckingham Investments, Inc
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110 E Wilshire Ave, Suite G1, Fullerton, United States

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