440 W 5th Street

    Long Beach, CA 90802
    • $7,300,000
    • STATUS: Active
    • ON SITE: 129 days
    • ID#: PW19035823
    UPDATED: 56 min ago
    $7,300,000
    • 0
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 19,657
      SQFT
    • $371
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1987
    County:

    School Ratings & Info

    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+GG enjoyment.These amenities make 440 West 5th Street competitive in such a dense rental market, and the property+GGs 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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T00:36:54.86. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/91873582

    440 W 5th Street Long Beach, CA 90802

    • Price: $7,300,000
    • Status: Active
    • Updated: 56 min ago
    • ID#: PW19035823
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.3
    Acres
    19,657
    SQFT
    $371
    $/SQFT
    1987
    Built
    Neighborhood:
    Downtown (Dt)
    County:
    Los Angeles
    Area:
    4 - Downtown Area, Alamitos Beach
    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+GG enjoyment.These amenities make 440 West 5th Street competitive in such a dense rental market, and the property+GGs 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.
    Exterior Features

    Garage Spaces 21.00 Lot Features Landscaped Lot Size Source Assessor Lot Size Units Square Feet Parking Total 21.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Electric Dryer HookupInsideWasher Hookup Levels Three Or More

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features SidewalksUrban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 461880.00 Gross Scheduled Income 461880.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 277372.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 21 Number Of Separate Gas Meters 21 Number Of Separate Water Meters 0 Operating Expense 174415.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Downtown (Dt) Total Expenses 174415.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Zoning Lbpd30

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


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T00:36:54.86. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller | Keller Williams Realty
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024