3025 East 5th Street

Long Beach, CA 90814

$5,800,000
Last Sold Price
3
Beds
20
Baths
14,584 Sq. Ft.
$398 / Sq. Ft.
14,584
Sq. Ft.
$398
per Sq. Ft.

Description

3025 E. 5th Street is a 20-unit apartment asset located just one block from popular Retro Row in Long Beach, California. The property is comprised of (10) 2BD / 2BA units and (10) 1BD / 1BA units surrounding a landscaped courtyard. Fourteen (14) of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers...3025 E. 5th Street is a 20-unit apartment asset located just one block from popular Retro Row in Long Beach, California. The property is comprised of (10) 2BD / 2BA units and (10) 1BD / 1BA units surrounding a landscaped courtyard. Fourteen (14) of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers. The ten (10) existing garages offer the opportunity for additional income or for ADU conversion to increase rental income. The property is located in walking distance to vibrant Retro Row with attractive shopping, dining and nightlife amenities.
  1. Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916

Property Details for 3025 East 5th Street

Parking Spaces Total
10
Private Pool
No
Total Units
20.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
14584
Assessor Parcel Number
7257-006-031
Property Attached YN
true

Location

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

Sold By Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

Add your commute
LISTING UPDATED: 04/24/2024 04:33 AM

Property Details for 3025 East 5th Street

StatusClosed
MLS #PW23222053
Days on Market123
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1961
Lot Size0.31 AC / 13,501 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

Sold By Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

Add your commute

Building Information for 3025 East 5th Street

Stories2Residences-Year Built1961Building Size-Lot Size0.31 AC / 13,501 SF

Payment Calculator

$37,634 per month

30 year fixed, 7.25% Interest

Principal and Interest

$31,653

Property Taxes

$5,981

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3025 East 5th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $473,698
  • Gross Scheduled Income: $488,348
  • Net Operating Income: $317,352
  • Gross Multiplier: 12.28
  • Cap Rate: 5.29
  • Financing: Cash To New Loan
Expense Details
  • Operating Expense: $156,345
  • New Taxes Expense: $74,541
  • Gardener Expense: $1,200
  • Fuel Expense: $0
  • Licenses Expense: $1,800
  • Pest Control Expense: $1,200
  • Electric Expense: $13,720
  • Insurance Expense: $13,000
  • Maintenance Expense: $14,000
  • Professional Management Expense: $30,885
  • Other Expense: $6,000
  • Other Expense Description: Reserves
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $156,345
Tax / Assessment Info
  • Tax Block: G
  • Tax Tract Number: 5768
  • Tax Census Tract: 5768.02
  • Tax Lot: 17
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 16-20 Units/Acre
  • Number Of Units: 20
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 10
  • Parking Garage Spaces: 10
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Eastside
  • Builders Tract Code: Eastside (ES)
Unit Information
Unit 1
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,853
  • Unit Type Total Rent: $18,530
  • Unit Type Pro Forma: 2145
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,202
  • Unit Type Total Rent: $22,020
  • Unit Type Pro Forma: 2495
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 20
  • Number Of Separate Gas Meters: 20
  • Number Of Separate Water Meters: 1

Property History for 3025 East 5th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3025 East 5th Street

Taxable ValueLand$2,231,037Additions$3,236,403Total$5,467,440
Tax Record2023$71,768 ($5,981 / month)
Home Facts
Total Finished SqFt14,584 SqFtAbove Grade Finished SqFt14,584 SqFtLot Size13,502 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningLBR2NCountyLOS ANGELESAPN7257-006-031

Schools near 3025 East 5th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Mann Elementary School
PublicK to 5

Jefferson Leadership Academies School
Public6 to 8

Wilson High School
Public9 to 12

Richard D. Browning High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.