CA > Long Beach
Long Beach, CA 90802,1048 E 5th Street
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Long Beach, CA 90802,1048 E 5th Street
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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Garrick Yan

Garrick Yan

+1(510) 999-8008
Listed by JENNIFER MENDOZA • EXP REALTY OF CALIFORNIA INC
$ 2,500,000
Est. payment /mo
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Active

1048 E 5th Street Long Beach, CA 90802

11,338 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 11,338 sqft

Price per Sqft $220

MLS Listing ID CRIV24250595

HOA Y/N No

Year Built 1915

Lot Size 0.341 Acres

Property Sub-Type Other

Source Datashare California Regional

Property Description

***PRICE IMPROVEMENT***Prime Investment Opportunity with FULLY APPROVED PLANS RTI***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. 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: FULLY APPROVED PLANS RTI - (2) 3 Bed / 2 Bath units with grade-level parking (3) 4 Bed / 3 Bath townhome-style units, also with grade-level parking. 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. Projected end value exceeds $6,000,000, providing exceptional upside in one of Long Beach’s hottest rental markets. Conservatively underwritten

Location

State CA

County Los Angeles

Interior

Fireplace No

Laundry Other

Bay East AOR and Contra Costa AOR
© 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.
agent

Garrick Yan

Team Leader | CA BRE #01916102

+1(510) 999-8008

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