531 W 5th Street
Long Beach, CA 90802
- – beds
- – baths
- – sqft
- 7,518 sqft lot
- 1905 build
- – on site
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531 W 5th Street is a 7-unit apartment complex located in Los Angeles County’s rapidly growing Long Beach Market. Consisting of (1) detached 3 bedroom/ 1 bath home and (6) Studios with full kitchens and large baths. The property features 4 newly constructed garages with three storage units and (1) 2 car garage. Offering an investor the opportunity to acquire a true value-add asset with over 54% in rental upside. All tenants are on month-to-month leases. Access to commuting freeways and core job markets continues to make this location irreplaceable. A future investor will enjoy long-term upside with this asset, due to a continued shortage of apartment housing and lack of affordability in single-family homes in Southern California.
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Last updated Mar 21, 2024
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MLS# NP24025759 —
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/21/24
Mar 21, 2024
|
Sold | CRMLS_CA | $975,000 | -22.0% |
|
3/12/24
Mar 12, 2024
|
Pending | CRMLS_CA | $1,250,000 | |
|
2/14/24
Feb 14, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $1,250,000 |