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5261 E The Toledo, Long Beach, CA 90803
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5261 E The Toledo Long Beach, CA 90803

$3,300,000 Sold Price as of 08/27/2024
  • 8 Beds
  • 8 Baths
  • 4,468 Sq.Ft.
Sold
$3,300,000 Sold Price as of 08/27/2024 Refinance Your Mortgage
Map preview of 5261 E The Toledo, Long Beach, CA 90803

Property Overview: 5261 E The Toledo Long Beach, CA has 8 bedrooms, 8 bathrooms, 4,468 living square feet and 5,304 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Introducing “The Toledo”, an 8-unit, apartment building in the heart of Belmont Shore. This immaculate building features 4 spacious units in the front- 2 of which have front patios, and the remaining 4 units located in the back. The property also includes a two-car garage that presents an excellent opportunity for an ADU conversion.  The common areas have been well-maintained, offering a pleasant environment for all tenants. This meticulously maintained 8-unit property offers a unique blend of coastal living and urban convenience, making it a highly desirable location for tenants. Nestled in the vibrant Belmont Shore neighborhood, this property is just a short stroll away from the beach, popular dining spots, boutique shops, and recreational activities. Enjoy the best of Long Beach living with easy access to the bustling 2nd Street and the serene coastline. Don't miss out on this rare opportunity to own this gem in one of Long Beach's best neighborhoods.

Listed by Giannina Silva | BRE #01408839 | INTI Realty
Last checked: 9 minutes ago | Last updated: August 28th, 2024 | Source CRMLS | DOM: 21

Home details

Lot Sq. Ft
5,304
HOA Dues
$0/mo
Year built
1943
Garage
2 Car
Property Type:
Apartment
Status
Sold
MLS#
PW24115206
City
Long Beach
County
Los Angeles
Time on Site
113 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 2
  • # of Leased Units: 7
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,650
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,650
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,530
  • Total Rent: $2,530
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,875
  • Total Rent: $1,875
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,365
  • Total Rent: $2,365
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,175
  • Total Rent: $2,175
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,075
  • Total Rent: $2,075
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5%
  • Gross Rent Multiplier: 15.19
  • Gross Scheduled Income: $221,640
  • Net Operating Income: $163,976
  • Gross Operating Income: $217,207
  • Vacancy Allowance: $4,433
  • Laundry Income: $600
Annual Expense Breakdown
  • Total Operating Expense: $53,231
  • Licenses: $381
  • New Taxes: $41,250
  • Trash: $1,450
  • Insurance: $3,500
  • Maintenance: $4,800
  • Professional Management: $0
  • Water/Sewer: $1,550
  • Other Expenses: $300
  • Other Expense Description: Misc

Property Details for 5261 E The Toledo

Interior Features
Laundry Information
  • Has Laundry
  • Community, Inside
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 2
  • Has Parking
  • Parking Features: Garage - Single Door
Lot Information
  • Lot Features: Near Public Transit
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 8
  • Parcel Number: 7249013019
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Belmont Park (BP)
  • Directions: The Toledo & Covina Ave.
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 5261 E The Toledo

Last sold for $3,300,000 on August 27th, 2024

  • August, 2024

  • Aug 27, 2024

    Date

    Sold

    CRMLS: PW24115206

    $3,300,000

    Price

  • Jun 7, 2024

    Date

    Active

    CRMLS: PW24115206

    $3,300,000

    Price

  • May, 2019

  • May 2, 2019

    Date

    Expired

    CRMLS: PW18296446

    $3,200,000

    Price

  • Mar 7, 2019

    Date

    Withdrawn

    CRMLS: PW18296446

    $3,200,000

    Price

  • Mar 1, 2019

    Date

    Active

    CRMLS: PW18296446

    $3,200,000

    Price

  • Mar 1, 2019

    Date

    Price Change

    CRMLS: PW18296446

    $3,200,000

    Price

  • Feb 28, 2019

    Date

    Withdrawn

    CRMLS: PW18296446

    $4,000,000

    Price

  • Dec 27, 2018

    Date

    Active

    CRMLS: PW18296446

    $4,000,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present the 5261 E. The Toledo, a rare turn key 8-unit apartment building located just steps from the beach in the highly desirable Belmont Shore district of Long Beach, CA. The offering is comprised of eight 1 Bedroom/ 1 bathroom turn key units. Each unit has stainless steel appliances, granite counter tops, with laundry on site, pets are considered and air conditioning in each unit. Toledo has new plumbing, new electrical throughout and completely renovated in 2014. The Toledo is a short walk to the beach, and is conveniently located near the popular retail, entertainment, and dining district on Belmont Shore’s East Second Street. It offers more than 250 unique, upscale boutiques and specialty shops and a myriad of coffee shops, cafes, casual dining taverns, and international specialty restaurants.There is also tremendous opportunity to capitalize on strong market trends that should increase rental income by over 45 percent. Given the fantastic location and strong demographics. The Toledo Apartments are well suited to provide investors with value appreciation over the long-term investment horizon.

  • June, 2013

  • Jun 10, 2013

    Date

    Sold (Public Records)

    Public Records

    $1,700,017

    Price

  • July, 2009

  • Jul 1, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 5261 E The Toledo

Assessed Value (2020): $1,915,008
Year Land Value Improved Value Assessed Value
2020 $1,069,683 $845,325 $1,915,008

Home Value Compared to the Market

This property vs the competition

5261 E The Toledo sold on August 27, 2024 for 302.93% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $738.59 per/sqft which puts the price per square foot 17.61% higher than the current median sale per square foot for the city of Long Beach.

About 5261 E The Toledo

Detailed summary of property

5261 E The Toledo is a apartment that recently sold in Long Beach, CA 90803. This apartment offered 8 bedrooms, 8 bathrooms, roughly 4,468 living square feet, and sits on an approximately 5,304 square foot lot. 5261 E The Toledo was first listed on ArdentRealEstateGroup.com on June 7, 2024. The homeowner sold the property for $3,300,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 302.93% higher than the current median priced home. Local homes that are currently for sale include 16861 Green Ln, 16592 Jib Circle and 6062 Atlantic Ave. While the average home in Long Beach, CA is selling in 65 days, 5261 E The Toledo has a days on market of 21 days. There are currently 777 homes for sale in the Long Beach real estate market and 410 of them are single family homes while 343 of them are condos and 22 are townhomes. For more information on this home for sale at 5261 E The Toledo Long Beach, CA 90803 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 5261 E The Toledo

Public county record property details
Beds
8
Baths
8
Year built
1943
Sq. Ft.
4,468
Lot Size
5,303
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
3
APN
7249-013-019

The source for these homes facts are from public records.

90803 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,600,000
Median List Price/Sq.Ft.
$824
Median Sold Price
$1,000,000
Median Sold Price/Sq.Ft.
$755
Total Inventory
120
Median Sale to List Price %
100.2%
Avg Days on Market
29
Loan Type
Conventional (29.63%), FHA (0%), VA (3.7%), Cash (37.04%), Other (29.63%)

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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