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1052 E 5th Street

Long Beach, CA 90802
  • $1,600,000
  • STATUS: Active
  • ON SITE: 60 Days
  • ID#: PW24189803
UPDATED: 67 min ago
$1,600,000
  • 10
    BEDS
  • 0.2
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
  • 3,421
    SQFT
  • $468
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1923
County:

School Ratings & Info

School District:
Listing Agent(s): Jeff Anderson of eXp Realty of California Inc (800-784-2616) and Torey Carrick of eXp Realty of California Inc(800-784-2616)


Description

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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-13T16:38:29.413. 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 or Better Living Socal Group Corporation. Licensed in the State of California, USA.
www.betterlivingsocalhomes.com/homes/155159291
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1052 E 5th Street Long Beach, CA 90802

  • Price: $1,600,000
  • Status: Active
  • On Site: 60 Days
  • Updated: 67 min ago
  • ID#: PW24189803
10
Beds
5
Baths
0
½ Baths
0.2
Acres
3,421
SQFT
$468
$/SQFT
1923
Built
Neighborhood:
Alamitos Beach (Ab)
County:
Los Angeles
Area:
4 - Downtown Area, Alamitos Beach
School District:
Long Beach Unified
Property Description
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.
Exterior Features

Entry Level 1 Entry Location 1 Lot Features Near Public Transit Open Parking Spaces 2 Parking Features Driveway Parking Total 2 Pool Features None Pool Private YN No Property Attached YN No Sign On Property YN No View Neighborhood View YN Yes

Interior Features

Accessibility Features Parking Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Main Level Bathrooms 5 Main Level Bedrooms 10

Property Features

Association Fee 0 Association YN No Common Interest None Community Features Sidewalks Garage YN No Land Lease YN No Laundry Features Inside Lease Considered YN No Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventional New Construction YN No Property Sub Type Quadruplex Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Structure Type Quadruplex Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-13T16:38:29.413. 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 or Better Living Socal Group Corporation. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373344730-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373344730-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373344730-2.jpg
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Better Living Socal Group Corporation
250 El Camino Real #104
Tustin CA, 92780
Listing Agent(s): Jeff Anderson of eXp Realty of California Inc (800-784-2616) and Torey Carrick of eXp Realty of California Inc(800-784-2616)