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1001 E 5Th St, Long Beach, CA 90802
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1001 E 5Th St Long Beach, CA 90802

$1,670,000 Sold Price as of 07/05/2023
  • 7 Beds
  • 6 Baths
  • 3,544 Sq.Ft.
Sold
$1,670,000 Sold Price as of 07/05/2023 Refinance Your Mortgage
Map preview of 1001 E 5Th St, Long Beach, CA 90802

Property Overview: 1001 E 5Th St Long Beach, CA has 7 bedrooms, 6 bathrooms, 3,544 living square feet and 6,167 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by LING BEH | BRE #01945660 | STRIVE REAL ESTATE
Last checked: 5 minutes ago | Last updated: December 2nd, 2023 | Source CRMLS | DOM: 37

Home details

Lot Sq. Ft
6,167
HOA Dues
$0/mo
Year built
1929
Garage
4 Car
Property Type:
Apartment
Status
Sold
MLS#
CV23051247
City
Long Beach
County
Los Angeles
Time on Site
416 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 5
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 8.2%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $136,000
  • Net Operating Income: $95,435
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $40,565
  • Electric: $0
  • New Taxes: $23,930
  • Trash: $0
  • Gardener: $960
  • Insurance: $2,246
  • Maintenance: $2,890
  • Professional Management: $7,080
  • Other Expenses: $3,459
  • Other Expense Description: solar

Property Details for 1001 E 5Th St

Interior Features
Cooling Information
  • Has Cooling
  • Electric
Heating Information
  • Has Heating
  • See Remarks
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: Rectangular Lot
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 5
  • Parcel Number: 7266007026
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Natural Gas Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Alamitos Beach (AB)
  • Directions: Off Alamitos Blvd
Neighborhood Information
  • Community Features: Street Lights, Suburban
View more facts & features

Local Long Beach Agent

Sale History for 1001 E 5Th St

Last leased for $2,895 on December 1st, 2023

  • December, 2023

  • Dec 1, 2023

    Date

    Leased

    CRMLS: CV23188010

    $2,895

    Price

  • Oct 9, 2023

    Date

    Active

    CRMLS: CV23188010

    $2,995

    Price

  • Listing provided courtesy of CRMLS

    Beautifully remodeled 2 bedroom, 2 bath downstairs home located in the Downtown area of Long Beach. This home features include AC (mini splits) in bedrooms, wood look vinyl flooring throughout, new interior paint, and large windows with blinds providing natural lighting. Remodeled kitchen has stunning white cabinets with white quartz countertops and stainless-steel appliances, along with beautifully patterned tile flooring. Remodeled baths feature new paint, vanity, white shower tiles, and beautifully patterned tile flooring. Check out the private courtyard! Garage parking available (short term). Close to schools, shopping, restaurants and easy access to freeways. Do not miss out!

  • July, 2023

  • Jul 5, 2023

    Date

    Sold

    CRMLS: CV23051247

    $1,670,000

    Price

  • Mar 28, 2023

    Date

    Active

    CRMLS: CV23051247

    $1,800,000

    Price

  • October, 2022

  • Oct 1, 2022

    Date

    Expired

    CRMLS: CV22135829

    $1,850,000

    Price

  • Jun 22, 2022

    Date

    Active

    CRMLS: CV22135829

    $1,899,999

    Price

  • Listing provided courtesy of CRMLS

    Long Beach will get to host seven Olympic events in 2028, when the Summer Games land in Los Angeles as announced by the Los Angeles Times. Spanish Colonial Coastal Hacienda meets booming Downtown Long Beach in this wonderful 5 unit Income property. Prime location next to all the downtown projects as total Long Beach development exceeded $3.5 billion. This classical California design is reminiscent of a hacienda compound featuring much desired outdoor common space and is attractive to prospective tenants who yearns for a beach city with a mix of metropolitan lifestyle. Gated access to the front and rear of the property as well as direct garage access to the secured area makes this a property a rare commodity. Property is equipped with solar, allows landlord to maximize rents as electricity is included. Completely remodeled, all units have AC installed with permits. All units rewired, new plumbing, New windows, all kitchens and bathrooms completely remodeled. 4 garages. Biking distance to the Alamitos beach adjacent to Downtown Long Beach where the city host major events such as, F1 Grand Prix of Long Beach, X Games, World Surf League's pro Longboard Tour as well as music festivals and outdoor concerts. In preparation of the summer 2028 Olympics, the city is building a new aquatic center on the beach called the Belmont Beach and Aquatic Center. This establishes a new focal point for the Long Beach aquatic competition community. Facilities include two 50-meter competition pools, recreational and teaching pools, therapeutic whirlpools, diving platforms, springboards and deep water wells, spectator seating and support spaces. Outdoors, a park, walk-up restaurant and landscaped plazas issue an open invitation to beachgoers and community members, and take full advantage of the Center’s Southern California setting.

  • July, 2019

  • Jul 26, 2019

    Date

    Sold

    CRMLS: 19472924

    $1,320,000

    Price

  • Jun 27, 2019

    Date

    Active Under Contract

    CRMLS: 19472924

    $1,329,900

    Price

  • Jun 1, 2019

    Date

    Active

    CRMLS: 19472924

    $1,329,900

    Price

  • Listing provided courtesy of CRMLS

    Melrose Place meets Long Beach in this wonderful 5 unit property. This property features much desired outdoor common space and is attractive to prospective tenants. With gated access to the front and rear of the property as well as direct garage access to the secured area makes this a property to not miss. Units have newly refinished real hardwood floors. This was not your basic remodel but maintained the original charm of the spanish design as well as old world character that many or your tenants will enjoy.

  • July, 2019

  • Jul 10, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,320,000

    Price

  • May, 2019

  • May 28, 2019

    Date

    Canceled

    CRMLS: 19431136

    $1,395,000

    Price

  • Feb 5, 2019

    Date

    Active

    CRMLS: 19431136

    $1,395,000

    Price

  • Listing provided courtesy of CRMLS

    1001 E 5th Street presents a strong opportunity for a purchaser to follow the lead of the current ownership in a newly-renovated asset located in the North Alamitos Beach neighborhood of Long Beach. As upgrades have resulted in a large increase in income, a new investor can follow this strategy to continue adding value, raise revenue and improve operating efficiency. * 5 Units Over 2 Buildings * Built In 1929 * Two 2 Bedroom + 1 Bathroom Units, Three 1 Bedroom + 1 Bathroom Units * 3,544 Gross Square Feet * Average Unit Size of 709 Square Feet * 6,166 Square Foot Lot (0.14 Acres) * 4 Garages * Laundry On-Site * Gated Access to Property * Patio Areas * LBR3S Zoning

  • July, 2018

  • Jul 6, 2018

    Date

    Sold (Public Records)

    Public Records

    $785,000

    Price

Show More

Tax History for 1001 E 5Th St

Assessed Value (2020): $1,320,000
Year Land Value Improved Value Assessed Value
2020 $860,000 $460,000 $1,320,000

Home Value Compared to the Market

This property vs the competition

1001 E 5Th St sold on July 5, 2023 for 106.25% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $465.58 per/sqft which puts the price per square foot 26.33% lower than the current median sale per square foot for the city of Long Beach.

About 1001 E 5Th St

Detailed summary of property

1001 E 5Th St is a apartment that recently sold in Long Beach, CA 90802. This apartment offered 7 bedrooms, 6 bathrooms, roughly 3,544 living square feet, and sits on an approximately 6,167 square foot lot. 1001 E 5Th St was first listed on ArdentRealEstateGroup.com on March 29, 2023. The homeowner sold the property for $1,670,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 106.25% higher than the current median priced home. Local homes that are currently for sale include 1526 Cedar Ave, 522 E Rhea St and 1967 Atlantic Ave. While the average home in Long Beach, CA is selling in 51 days, 1001 E 5Th St has a days on market of 37 days. There are currently 639 homes for sale in the Long Beach real estate market and 366 of them are single family homes while 259 of them are condos and 14 are townhomes. For more information on this home for sale at 1001 E 5Th St Long Beach, CA 90802 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1001 E 5Th St

Public county record property details
Beds
6
Baths
5
Year built
1929
Sq. Ft.
3,544
Lot Size
6,166
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
13,14
APN
7266-007-026

The source for these homes facts are from public records.

90802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$530,000
Median List Price/Sq.Ft.
$630
Median Sold Price
$540,000
Median Sold Price/Sq.Ft.
$627
Total Inventory
130
Median Sale to List Price %
102.86%
Avg Days on Market
37
Loan Type
Conventional (51.52%), FHA (3.03%), VA (3.03%), Cash (24.24%), Other (15.15%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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