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5729 California Ave, Long Beach, CA 90805
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5729 California Ave Long Beach, CA 90805

$1,450,000 Sold Price as of 08/02/2023
  • 2 Beds
  • 7 Baths
  • 2,985 Sq.Ft.
Sold
$1,450,000 Sold Price as of 08/02/2023 Refinance Your Mortgage
Map preview of 5729 California Ave, Long Beach, CA 90805

Property Overview: 5729 California Ave Long Beach, CA has 2 bedrooms, 7 bathrooms, 2,985 living square feet and 5,566 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 5729 California Avenue is a seven-unit property located in North Long Beach. The property is comprised of six (6) studio units and a detached, remodeled 2BD/1BA house. The house was completely renovated as of 2022. The property is priced at 11.96 x gross and 5.18 cap rate on current rents. A new owner has the opportunity to increase rents and achieve 10.60 x gross and 6.17% cap rate. Additional income generating opportunities for a new owner include renting out storage spaces and surface parking spots on the property. Each building has its own electric meter, and a new owner could implement RUBS to further bring down operating expenditures.

Listed by Robert Stepp | BRE #01456379 | Keller Williams - Santa Monica
Co-listed by John Alden | BRE #02114291 | Alden Pacific Investments, Inc.
Last checked: 11 minutes ago | Last updated: August 4th, 2023 | Source CRMLS | DOM: 97

Home details

Lot Sq. Ft
5,566
HOA Dues
$0/mo
Year built
1928
Garage
--
Property Type:
Mixed Use
Status
Sold
MLS#
PW23047866
City
Long Beach
County
Los Angeles
Time on Site
420 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 3
  • # of Electric Meters: 3
  • # of Gas Meters: 2
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,331
  • Total Rent: $7,986
  • Pro Forma/Market Rent: $1,550
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,295
  • Total Rent: $2,295
  • Pro Forma/Market Rent: $2,295
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $123,372
  • Net Operating Income: $76,447
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $43,224
  • Electric: $3,009
  • Gas/Fuel: $1,931
  • Licenses: $1,500
  • New Taxes: $18,681
  • Trash: $1,018
  • Gardener: $975
  • Insurance: $2,388
  • Maintenance: $4,550
  • Professional Management: $5,984
  • Water/Sewer: $1,437
  • Other Expenses: $1,575
  • Other Expense Description: Reserves

Property Details for 5729 California Ave

Interior Features
Laundry Information
  • No Laundry
  • None
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 7
  • Parcel Number: 7127003017
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: North Long Beach (NLB)
  • Directions: Atlantic Ave & South St
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 5729 California Ave

Last sold for $1,450,000 on August 2nd, 2023

  • August, 2023

  • Aug 2, 2023

    Date

    Sold

    CRMLS: PW23047866

    $1,450,000

    Price

  • Mar 23, 2023

    Date

    Active

    CRMLS: PW23047866

    $1,475,000

    Price

  • August, 2017

  • Aug 30, 2017

    Date

    Sold

    CRMLS: PW17089171

    $874,900

    Price

  • Jul 10, 2017

    Date

    Pending

    CRMLS: PW17089171

    $849,900

    Price

  • May 1, 2017

    Date

    Active

    CRMLS: PW17089171

    $849,900

    Price

  • Apr 28, 2017

    Date

    Pending

    CRMLS: PW17089171

    $849,900

    Price

  • Apr 25, 2017

    Date

    Active

    CRMLS: PW17089171

    $849,900

    Price

  • Listing provided courtesy of CRMLS

    Rare 7 unit property in low density residential area of North Long Beach, nice SFR's & duplexes primarily. There is a Neighborhood Market adjacent to our property but it faces South Street and the Market has no rear parking or rear entrance (see photos), which actually provides a certain amount of privacy. Beautiful mixed-use building directly across street. This is a Prime Investment Opportunity for the smart investor willing to professionally manage and maintain the buildings. Lots of upside potential to this 7-unit property with creative land-use improvements to the existing open areas which will increase tenant living enjoyment and increase the rental value of this exceptional multi-family investment opportunity. Property consist of a detached 2bed SFR in front with mid-yard separating it from two separate 2-story apartment buildings. Left building has 4 partially furnished Studio units & right building has 2 Studio Apt. Tax says 1bedrms but only bedrooms are in frony house. Property is under section 8 and other government rent subsidiaries. There's a small court yard in between the two rear buildings as well. The parking area is deep & wide and with painted angled parking lot striping it could easily accommodate more cars for off street parking. Run the numbers and make an offer!

  • August, 2017

  • Aug 30, 2017

    Date

    Sold (Public Records)

    Public Records

    $875,000

    Price

  • May, 2015

  • May 14, 2015

    Date

    Sold (Public Records)

    Public Records

    $635,000

    Price

Show More

Tax History for 5729 California Ave

Assessed Value (2020): $910,245
Year Land Value Improved Value Assessed Value
2020 $338,025 $572,220 $910,245

Home Value Compared to the Market

This property vs the competition

5729 California Ave sold on August 2, 2023 for 84.38% 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 $494.14 per/sqft which puts the price per square foot 21.81% lower than the current median sale per square foot for the city of Long Beach.

About 5729 California Ave

Detailed summary of property

5729 California Ave is a mixed use that recently sold in Long Beach, CA 90805. This mixed use property offered 2 bedrooms, 7 bathrooms, roughly 2,985 living square feet, and sits on an approximately 5,566 square foot lot. 5729 California Ave was first listed on ArdentRealEstateGroup.com on March 23, 2023. The homeowner sold the property for $1,450,000. 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 84.38% higher than the current median priced home. Local homes that are currently for sale include 2630 E 1St St, 701 N Fickett St and 2015 Pennsylvania Ave. While the average home in Long Beach, CA is selling in 51 days, 5729 California Ave has a days on market of 97 days. There are currently 643 homes for sale in the Long Beach real estate market and 358 of them are single family homes while 270 of them are condos and 15 are townhomes. For more information on this home for sale at 5729 California Ave Long Beach, CA 90805 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 5729 California Ave

Public county record property details
Beds
7
Baths
7
Year built
1928
Sq. Ft.
2,985
Lot Size
5,559
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
18
APN
7127-003-017

The source for these homes facts are from public records.

90805 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$699,000
Median List Price/Sq.Ft.
$563
Median Sold Price
$720,000
Median Sold Price/Sq.Ft.
$564
Total Inventory
63
Median Sale to List Price %
101.69%
Avg Days on Market
26
Loan Type
Conventional (47.83%), FHA (17.39%), VA (4.35%), Cash (13.04%), Other (17.39%)

Thinking of Selling?

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Thinking of Selling?
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(714) 706-1823

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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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