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Drake Cruz

drake@drake4homes.com +1(562) 884-9016

$ 2,595,000

Est. payment | -/mo

6,534 Sqft Lot

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$ 2,595,000

Est. payment | -/mo

Save

6,534 Sqft Lot

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Eastside (Es)

MLS Listing ID OC26214397

HOA Y/N No

Year Built 1930

Lot Size 6,534 Sqft

Property Sub-Type Apartment

Property Description

3121 East 5th Street is a 5-unit multifamily investment property located in Long Beach, California. Constructed in 1930 and known as Casa Valencia, the property features a unit mix of five 2-bed/1-bath residences totaling 5,822 square feet. Four of the units offer approximately 1,242 square feet of living space, while the fifth totals approximately 854 square feet. Four single-car garages and four surface space provide an attractive parking ratio. Casa Valencia retains a collection of original Spanish Revival details that distinguish the property from more conventional apartment inventory. Architectural features include plaster barrel-vaulted ceilings, curved archways and period Spanish Revival fixtures, complemented by oak flooring and dedicated dining rooms in 4 of the 5 residences. Ownership has renovated 2 of the 5 units with new kitchens, stainless-steel appliances and in-unit washer/ dryers while also completing electrical and exterior improvements throughout the property. Most notably, Unit 3127, the renovated 1,242-square-foot residence, currently rents for $3,495 per month, compared with approximately $1,770 to $2,528 for the three remaining residences of the same size. This in-place performance provides a clear benchmark for the property's value-add potential as the remaining units are improved over time. Located in Long Beach's 90814 ZIP, Casa Valencia places residents near Fourth Street's Retro Row, Bluff Park and the coastline, with convenient access to Belmont Shore, Downtown Long Beach and the surrounding area's dining, shopping and recreational destinations. Together, Casa Valencia's preserved architectural character, oversized 2-bedroom floor plans and demonstrated renovation premium provide a distinctive foundation for continued value creation.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Interior

Fireplace No

Laundry Inside

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Gutter(s), Street Lights, Sidewalks

Total Parking Spaces 8

Private Pool No

Building

Lot Description Street Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7257006027

Energy Description 416.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Tyler Leeson Marcus & Millichap RE Invest tleeson@marcusmillichap.com, DRE #01451551

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(562) 884-9016

drake@drake4homes.com

6621 E Pacific Coast Hwy #150, Long Beach, CA 90803, USA

3121 E 5th ST Long Beach, CA 90814

Drake Cruz

Key Details

Location

Interior

Exterior

Building

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3121 E 5th ST