Listing by: Jeff Anderson, eXp Realty of California Inc, 800-784-2616
10 Beds
5 Baths
3,421 SqFt
Active
Welcome to 1052 East 5th Street, a North Alamitos Beach Bungalow Court with 4 detached homes that are expertly sited around a lushly landscaped central courtyard. The detached separation of each home creates significant privacy and tranquility for each of its residents. With ample outdoor space, every occupant of this enviable compound can enjoy additional exterior square footage that will expand their living space. Located only 5 short blocks away from the ocean, rarely do investment properties deliver such a unique and high-demand unit mix in such a fabulous location. The Front Bungalow offers 3 bedrooms, 1 bathroom, washer and dryer, private front porch and direct access to the backyard – Bungalow A offers 3 bedrooms, 2 bathrooms, including a primary bedroom suite with attached bathroom, grassy front yard and washer and dryer – Bungalow B offers 2 bedrooms, 1 bathroom and vaulted ceilings – Bungalow C offers 2 bedrooms, 1 bathroom, front porch, washer and dryer and historic architectural details. This heritage investment property has been thoroughly upgraded and its current steward has spent over $200,000 in updates complete with modern kitchens, contemporary bathrooms and numerous systems upgrades. Parking concerns are alleviated with substantial off-street parking that generate additional monthly income of $180 per month. The magic of this property is undeniable and has resulted in long-term stable tenants that display clear pride in their homes. While vacancy has been limited historically, the largest home (Bungalow A!!!) is expected to be vacant soon which makes this a strong and viable option for an owner occupant who wishes to purchase an investment property, take advantage of owner-occupied financing (only 5% down!!!) and leverage the rental income from the additional 3 units and parking spaces ($!!!). Local area investment has been impressive with a newly built 6-unit building next door, street infrastructure improvements on adjacent Cerritos Ave and an extensive list of improvements occurring at the Franklin Classical Middle School. With simple access to Retro Row, the Broadway Corridor, Bixby Park, Bluff Park and the Paths along the Pacific Ocean, the magnitude of this location is undeniable. With its dynamic unit mix, numerous contemporary upgrades, supreme layout, magical outdoor space and prime location, this investment property presents a rare opportunity to attain a crown jewel.
Property Details | ||
---|---|---|
Price | $1,600,000 | |
Bedrooms | 10 | |
Full Baths | 5 | |
Total Baths | 5 | |
Lot Size Area | 8922 | |
Lot Size Area Units | Square Feet | |
Acres | 0.2048 | |
Property Type | Residential | |
Sub type | Quadruplex | |
MLS Sub type | Quadruplex | |
Stories | 1 | |
Year Built | 1923 | |
Subdivision | Alamitos Beach (AB) | |
View | Neighborhood | |
Accessibility | Parking | |
Lot Description | Near Public Transit | |
Laundry Features | Inside | |
Pool features | None | |
Parking Description | Driveway | |
Parking Spaces | 2 | |
Garage spaces | 0 | |
Association Fee | 0 | |
Geographic Data | ||
Directions | 5th st | |
County | Los Angeles | |
Latitude | 33.772649 | |
Longitude | -118.178294 | |
Market Area | 4 - Downtown Area, Alamitos Beach | |
Address Information | ||
Address | 1052 E 5th Street, Long Beach, CA 90802 | |
Postal Code | 90802 | |
City | Long Beach | |
State | CA | |
Country | United States | |
Listing Information | ||
Listing Office | eXp Realty of California Inc | |
Listing Agent | Jeff Anderson | |
Listing Agent Phone | 800-784-2616 | |
Attribution Contact | 800-784-2616 | |
Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
Special listing conditions | Standard | |
Ownership | None | |
Virtual Tour URL | https://www.1052east5th.com/unbranded | |
School Information | ||
District | Long Beach Unified | |
MLS Information | ||
Days on market | 1 | |
MLS Status | Active | |
Listing Date | Sep 13, 2024 | |
Listing Last Modified | Sep 14, 2024 | |
Tax ID | 7266009025 | |
MLS Area | 4 - Downtown Area, Alamitos Beach | |
MLS # | PW24189803 |
This information is believed to be accurate, but without any warranty.