Ideal Owner-User Opportunity Near Downtown Long Beach
531 W 5th St is a 7-unit multifamily investment offering a rare
combination of owner-user flexibility, in-place income, and upside
through approved development plans. The property features a vacant
3-bedroom/1-bath front house with a full kitchen, dedicated dining
area, Ring camera, and mini-split system, giving an owner-occupant
the privacy… Read More and feel of a standalone home while collecting rental
income from the remaining six units.
At current rents, the property produces a 6.02% cap rate and 10.87
GRM. Approved plans are in place for a 3-bedroom/2-bath ADU, which
brings the property to a 8.23% cap rate (including estimated
construction costs) once built, a clear value-add path for an investor
or owner-user looking to grow into the deal. The property also includes
a vacant 5-car garage, which a buyer can lease for parking income or
convert as part of the ADU plan.
Located minutes from Downtown Long Beach, the property is close to
the area's restaurants, bars, shopping, entertainment, waterfront, and
major transportation corridors. Between the private 3-bedroom
residence, six income-producing units, approved ADU plans, and a
vacant 5-car garage, 531 W 5th St gives an owner-user or investor
multiple ways to build equity in one property. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson 310-259-7556
Listing Snapshot
Days Online
1
Last Updated
Property Type
Apartment
Lot Size
0.17 Acres
Year Built
1905
MLS Number
SB26181225
Additional Details
Building
Built in 1905, 3 buildings, 1 storey, Entry level: 1, Entry location: Front
Community
Curbs, Suburban, Sidewalks, Urban
Expenses
Operating: $40,578
Garage
4 spaces
Income
Gross Income: $128,354, Gross ScheduledIncome: $128,354, Net Operating Income: $83,926
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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