1116 E 5th St Long Beach, CA 90802

$1,950,000 Sold Price as of 06/22/2018

8 Beds
8 Baths
6,156 Sq.Ft.

Off Market

$1,950,000 Sold Price as of 06/22/2018 Refinance Your Mortgage

Map preview of 1116 E 5th St, Long Beach, CA 90802

Property Overview: 1116 E 5th St Long Beach, CA has 8 bedrooms, 8 bathrooms, 6,156 living square feet and 8,972 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

1116 E 5th St is currently an off market home in the city of Long Beach. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Long Beach has a median list price of $799,000. The median price per/sqft for Long Beach is $639. With those numbers in mind, if you are looking to purchase a median priced home in Long Beach, CA and put 20% down you will need to save up $159,800 for the down payment and will need roughly $15,980 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Long Beach the commission could be as much as $40,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 1116 E 5th St

Last sold for $1,950,000 on June 22nd, 2018

June, 2023
Jun 1, 2023

Date

Expired

CRMLS: 22140463

$2,600,000

Price
Mar 26, 2022

Date

Active

CRMLS: 22140463

$2,695,000

Price
Listing provided courtesy of CRMLS

EXCELLENT ASSUMABLE FINANCING FIXED AT 3.71% THROUGH MARCH 2031. Earn a 5.5% CASH ON CASH return against in place income. 8 units located blocks from the Beach in Alamitos Beach in Long Beach. All units have been heavily updated including new kitchens and baths. There is no work to be done. The property is professionally maintained and in excellent condition. 4.6% CAP against in place rents with upside to a 6.2% CAP. The property features onsite laundry as well a 5 garages (rented as storage) and 4 parking spaces. The existing TD can be assumed. It's a $1.390.000 loan fixed for 10 years (originated in March 2021) at 3.71% with 3 years of I/O (runs through March 2024). There is also an opportunity to convert existing garages to ADU's. You can add TWO units. Option 1 - one unit approx. 825 SF (1/1 or 2/1) and a studio (305 SF). Option 2 - Two studios (approx. 400 SF each). NOTE: this will take up most of the garages onsite. Option 1 could generate additional rental income of $3,200/month in income and Option 2 could general additional income of $2,800/month- Buyer to verify. If you were to build the ADU's, you'd achieve an approximate 6.2% CAP. EMAIL LA1 FOR MORE INFO AND A RENT ROLL.

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August, 2018
Aug 23, 2018

Date

Sold

CRMLS: PW18069429

$1,950,000

Price
Apr 11, 2018

Date

Withdrawn

CRMLS: PW18069429

$2,250,000

Price
Mar 27, 2018

Date

Active

CRMLS: PW18069429

$2,250,000

Price
Listing provided courtesy of CRMLS

The East 5th Street Apartments is an 8 unit apartment community located in North Alamitos Beach submarket of Long Beach. Its close proximity to the East Village, Alamitos Beach and short distances to Downtown(to the West), Shoreline Village & Retro Row(to the East) makes this a central location to many activities and amenities. Investors have the opportunity to acquire a recently upgraded building with strong in place rents. The property is comprised of two separate buildings and consists of two one-bedroom units, four two-bedroom units and two three-bedroom units with gated access, a side yard and center yard between the two buildings. Onsite Laundry available. The asset also boasts 7 garages and 3 parking spaces. All units have been renovated and feature bright, open floor plans.

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June, 2018
Jun 22, 2018

Date

Sold (Public Records)

Public Records

$1,950,000

Price
June, 2018
Jun 22, 2018

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1116 E 5th St

Assessed Value (2020): $2,030,180

Year	Land Value	Improved Value	Assessed Value
2020	$1,420,146	$610,034	$2,030,180

About 1116 E 5th St

Detailed summary of property

1116 E 5th St is categorized with a use code of Apartment House (5+ Units) in Long Beach, CA 90802 and last sold on June 22, 2018 for $1,950,000. This property has 8 bedrooms, 8 bathrooms, roughly 6,156 living square feet, and sits on an approximately 8,972 square foot lot. Homes 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 143.75% higher than the current median priced home. 1116 E 5th St was last sold on June 22, 2018 for $1,950,000. Local nearby listings include 1168 E 10th St #103A, 202 Esperanza Ave #202 and 129 Esperanza Ave. The average home in Long Beach, CA is selling in 52 days. There are currently 647 homes for sale in the Long Beach real estate market and 369 of them are single family homes while 262 of them are condos and 16 are townhomes. If you are the homeowner and looking to sell the home at 1116 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 1116 E 5th St

Public county record property details

Beds: 8
Baths: 8
Year built: 1929
Sq. Ft.: 6,156
Lot Size: 8,972
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 12
APN: 7266-010-022

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

$539,800

Median List Price/Sq.Ft.

$630

Median Sold Price

$540,000

Median Sold Price/Sq.Ft.

$627

Total Inventory

126

Median Sale to List Price %

102.86%

Avg Days on Market

Loan Type

Conventional (51.52%), FHA (3.03%), VA (3.03%), Cash (24.24%), Other (15.15%)

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(714) 706-1823

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