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3025 E. 5th Street

3025 E. 5th Street,Long Beach, CA 90814

20

Unit

$5,995,000

Price

Property Details

Price Per Unit

$299,750

Price per SF

$411

Current Cap Rate

5.29%

Market Cap Rate

6.37%

Current GRM

12.28

Market GRM

10.73

3025 E. 5th Street

3025 E. 5th Street,Long Beach, CA 90814

$5,995,000

Price

Property Details

Price per SF

$411

Price Per Unit

$299,750

Price per SF

$411

Current Cap Rate

5.29%

Market Cap Rate

6.37%

Unit

20

Current GRM

12.28

Market GRM

10.73

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 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.

Highlights

  • Priced at 12.28 GRM on Current Rents
  • 14 Units Fully Renovated w/ In-Unit Washer/Dryers
  • Excellent Mix of 1BD and 2BD Units
  • 10 Garages Offer Potential for ADU Conversion
  • Prime Location Just One Block from Retro Row

Map

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