5285 East The Toledo

Long Beach, CA 90803

$2,195,000
Price
Beds
8
Baths
3,389 Sq. Ft.
$648 / Sq. Ft.
3,389
Sq. Ft.
$648
per Sq. Ft.

Description

5285 East The Toledo is a rare 8-unit multifamily investment property located in the prime Belmont Park neighborhood of Long Beach, CA. 5285 East The Toledo offers investors an opportunity to preserve its existing vintage and character, while allowing a new investor to capture upwards of 30% rental upside by modernizing the apartment’s interiors. Situated in a prime Belmont Park location, 5285 East The Toledo offers exclusively studio floor plans measuring approximately 424 square feet. Residents...5285 East The Toledo is a rare 8-unit multifamily investment property located in the prime Belmont Park neighborhood of Long Beach, CA. 5285 East The Toledo offers investors an opportunity to preserve its existing vintage and character, while allowing a new investor to capture upwards of 30% rental upside by modernizing the apartment’s interiors. Situated in a prime Belmont Park location, 5285 East The Toledo offers exclusively studio floor plans measuring approximately 424 square feet. Residents enjoy the property’s idyllic location within walking distance of the abundance of retail, dining, and entertainment options at Belmont Shore’s 2nd Street. The property is also just over 1 mile from 2nd & PCH, a recently developed open-air mall, providing residents with convenient access to a plethora of popular retailers and restaurants. Additionally, 5285 East The Toledo is in close proximity to Marine Stadium, Marina Vista Park, and Alamitos Bay, providing residents with an abundance of recreational opportunities. Furthermore, the property’s close proximity to Pacific Coast Highway provides residents with easy access throughout Long Beach and neighboring coastal cities.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • 714-713-9086

Property Details for 5285 East The Toledo

Parking Spaces Total
0
Private Pool
No
Total Units
8.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
3389
Assessor Parcel Number
7249-013-038
Property Attached YN
false

Location

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551
Add your commute
LISTING UPDATED: 04/24/2024 03:04 AM

Property Details for 5285 East The Toledo

StatusActive
MLS #OC24065252
Days on Market31
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1947
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551
Add your commute

Building Information for 5285 East The Toledo

Building/Complex5285 E The ToledoFloor-Stories2Residences-Pet Policy-Year Built1947Building Size-

Payment Calculator

$13,047 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,979

Property Taxes

$1,068

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5285 East The Toledo

Income / Expense / Tax Details
Income Details
  • Gross Income: $141,967
  • Gross Scheduled Income: $140,767
  • Vacancy Allowance: 4223
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $136,544
  • Net Operating Income: $91,281
  • Other Income Description: Misc
  • Other Income 1: $1,200
  • Gross Multiplier: 15.46
  • Cap Rate: 4.16
Expense Details
  • Operating Expense: $46,463
  • Operating Expense Percent: 33.70%
  • New Taxes Expense: $27,312
  • Fuel Expense: $1,468
  • Electric Expense: $1,468
  • Insurance Expense: $4,200
  • Maintenance Expense: $4,000
  • Professional Management Expense: $0
  • Other Expense: $9,078
  • Other Expense Description: Misc
  • Trash Expense: $1,468
  • Water Sewer Expense: $1,469
  • Total Expenses: $46,463
Tax / Assessment Info
  • Tax Block: 15
  • Tax Tract Number: 7029
  • Tax Census Tract: 5774.00
  • CFD/Mello-Roos Fee: $1,278
  • Tax Lot: 3
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: First level
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Belmont Shore
  • Builders Tract Code: Belmont Shore (BSD)
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $11,731
  • Unit Type Total Rent: $11,731
  • Unit Type Pro Forma: 16400
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 5285 East The Toledo

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 5285 East The Toledo

Taxable ValueLand$557,604Additions$369,955Total$927,559
Tax Record2023$12,819 ($1,068 / month)
Home Facts
Total Finished SqFt3,389 SqFtAbove Grade Finished SqFt3,389 SqFtLot Size3,309 SqFtStyleMulti-Family Res (5+ Units)Year Built1947ZoningLBR4RCountyLOS ANGELESAPN7249-013-038

Schools near 5285 East The Toledo

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
Lowell Elementary School
PublicK to 5

Rogers Middle School
Public6 to 8

Wilson High School
Public9 to 12

Eunice Sato Academy Of Math & Science
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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5285 East The Toledo is a multi-family home for sale in Long Beach, CA 90803. This property was listed for sale on April 2, 2024 by Marcus & Millichap RE Invest, it's currently listed at $2,195,000. It has been on the market for a total of 31 days and was last sold on June 8, 2000. This listing's school district is Long Beach Unified School District. Nearby schools include Lowell Elementary School, Rogers Middle School and Wilson High School. 5285 East The Toledo is a 0-bed, 8-bath, 3,389 sqft multi-family home built in 1947.

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 Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

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.