Sold for $975,000

Listing Provided by: Compass

Bought with: Compass

$975,000

531 W 5th St, Long Beach, CA 90802

3beds

7baths

3,344sqft

Mixed Use

Built in 1905

-- sqft lot

$-- Zestimate^®

$292/sqft

$4,043 Estimated rent

Home value

Not available

Estimated sales range

Not available

$4,043/mo

Zestimate^® history

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$4,043/mo

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$4,043/mo

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$6,143/mo

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$6,143/mo

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What's special

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.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 7

Appliances

Laundry: None

Features

Common walls with other units/homes: 2+ Common Walls

Interior area

Total structure area: 3,344
Total interior livable area: 3,344 sqft

Property

Parking

Total spaces: 5
Parking features: Garage
Garage spaces: 5

Features

Levels: One
Stories: 1
Entry location: First Level
Pool features: None

Lot

Size: 7,518 sqft
Features: Front Yard

Details

Parcel number: 7278021039
Zoning: LBPD30
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Mixed Use
Attached to another structure: Yes

Condition

New construction: No
Year built: 1905

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & neighborhood

Community

Community features: Curbs, Sidewalks

Location

Region: Long Beach

Other

Other facts

Listing terms: Cash,Cash to New Loan,Conventional,1031 Exchange

Price history

Date	Event	Price
6/28/2024	Listing removed	--
Source: Zillow Rentals Report a problem
6/12/2024	Price change	$1,336-4.2%
Source: Zillow Rentals Report a problem
5/9/2024	Listed for rent	$1,395
Source: Zillow Rentals Report a problem
3/21/2024	Sold	$975,000$292/sqft
Source: CRMLS #NP24025759 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$14,140 +520.4%	$994,500 +1176.1%
2024	$2,279 +2.4%	$77,932 +2%
2023	$2,226 +4.8%	$76,412 +2%
2022	$2,124 +3.9%	$74,921 +2%
2021	$2,045 +0.3%	$73,460 +1%
2020	$2,040	$72,712 +2%
2019	$2,040 +10.1%	$71,294 +2%
2018	$1,853	$69,904 +2.5%
2017	$1,853 +1.2%	$68,182 +2%
2016	$1,832 +7.1%	$66,846 +1.5%
2015	$1,711 +0.7%	$65,843 +2%
2014	$1,700	$64,554 +5%
2009	--	$61,456 +4%
2007	--	$59,071 +2%
2006	--	$57,914 +8.1%
2002	--	$53,578