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Listed by Tyler Leeson, DRE #01451551 • Marcus & Millichap RE Invest
$ 2,595,000
Est. payment /mo
Active
3121 E 5th ST Long Beach, CA 90814
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26214397
Year Built 1930
Source California Regional MLS
Property Description
3121 East 5th Street is a 5-unit multifamily investment property located in Long Beach, California. Constructed in 1930 and known as Casa Valencia, the property features a unit mix of five 2-bed/1-bath residences totaling 5,822 square feet. Four of the units offer approximately 1,242 square feet of living space, while the fifth totals approximately 854 square feet. Four single-car garages and four surface space provide an attractive parking ratio. Casa Valencia retains a collection of original Spanish Revival details that distinguish the property from more conventional apartment inventory. Architectural features include plaster barrel-vaulted ceilings, curved archways and period Spanish Revival fixtures, complemented by oak flooring and dedicated dining rooms in 4 of the 5 residences. Ownership has renovated 2 of the 5 units with new kitchens, stainless-steel appliances and in-unit washer/ dryers while also completing electrical and exterior improvements throughout the property. Most notably, Unit 3127, the renovated 1,242-square-foot residence, currently rents for $3,495 per month, compared with approximately $1,770 to $2,528 for the three remaining residences of the same size. This in-place performance provides a clear benchmark for the property's value-add potential as the rem
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Laundry Other
Exterior
Garage Spaces 8.0
Pool None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 7257006027
Special Listing Condition Not Applicable
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