440 W 5th Street, Long Beach, CA 90802

$7,300,000
19,657
SqFt
List Price
$7,300,000
Price Change
▼ $100,000 1552089490
Status
ACTIVE
MLS#
PW19035823
Year Built
1987
Living Sq. Ft
19,657
Lot Size
12,942
Acres
0.2971
Lot Location
Landscaped
Days on Market
100
Property Type
Multifamily
Stories
Three Or More Levels
Neighborhood
Downtown (Dt)

Property Description

440 West 5th Street, a 21-unit* apartment building in downtown Long Beach, California. Downtown Long Beach has been rapidly redeveloping in recent years, thanks to hundreds of millions of dollars worth of public and private investment. The property is well-located within walking distance of the numerous popular dining, retail and entertainment opportunities available downtown and conveniently near the 710 Freeway. The offering is a four-story, 1987 construction apartment building with gated parking on the ground floor and nine one-bedroom and 12 two-bedroom units on the top three floors. Recent upgrades include new hardwood-style flooring, new kitchen hardware and new bathroom fixtures. Amenities include fireplaces, in-unit laundry hookups, dishwashers, balconies, bedroom ceiling fans, and secure parking. The property also features a new rooftop deck with amazing views for tenants’ enjoyment. These amenities make 440 West 5th Street competitive in such a dense rental market, and the property’s good location and desirable unit mix make this offering an excellent opportunity for an investor to add value and capture substantial potential upside in rents.

Additional Information

Tract Number
n/a
Lot Description
Sidewalks, Urban
Pool Description
None
Garage Spaces Total
21
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Total Number of Units
21

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Steven Bogoyevac from Steven M. Bogoyevac, Broker

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