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Listed by Christopher Walker, DRE #01905338 • Triqor Group
$ 2,795,000
Est. payment /mo
New
5711 E 2nd Long Beach, CA 90803
3,671 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26180111
Year Built 1952
Lot Size 3,671 Sqft
Source California Regional MLS
Property Description
We are proud to present 5711 East 2nd Street, a boutique 8-unit multifamily property in the heart of Naples Island, one of Long Beach's most exclusive waterfront enclaves and among the most supply-constrained residential submarkets in Southern California. Offered at $2,795,000, or $349,375 per unit, the asset pairs in-place cash flow with meaningful rental upside in a community defined by scarcity: a fully built-out cluster of canal-ringed islands where new multifamily supply is effectively nonexistent and renter demand is anchored by an irreplaceable waterfront lifestyle. The property sits on the 2nd Street corridor at Ravenna Drive, steps from the Naples canals and Alamitos Bay, roughly a mile from the Belmont Shore business district, and about a mile from 2nd & PCH, a newer Whole Foods-anchored open-air shopping and dining development. The property comprises seven one-bedroom units and one two-bedroom unit. In-place rents sit approximately 21% below the operator's estimate of market, giving an incoming owner a clear runway to income growth as units are brought to market on turnover. Recent capital investment further de-risks the offering: the roof was professionally inspected and repaired in 2024 with an estimated ten years of remaining useful life, and the building's electric
Location
State CA
County Los Angeles
Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr
Interior
Laundry Laundry Area
Exterior
Garage Spaces 2.0
Pool None
Building
Lot Description Irregular
Water District - Public
Others
Tax ID 7243001022
Special Listing Condition Not Applicable
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