$2,350,000

1048 E 5th Street, Long Beach, CA 90802

  • 11,338 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1915
  • Property Lot Size Icon0.34acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $207/sqft
  • Property List Date Icon Listed 14 days ago

Property Description

***Immediate Income Opportunity***Value-add 6-unit in Long Beach with permits for 5 additional units + parking. Fully renovated, strong cash flow, and shovel-ready expansion. High upside via development or hold. Contact agent for detailed pro forma and plans. Rare Long Beach opportunity: a fully stabilized 6-unit multifamily income property (5 of 6 units recently renovated, 6th unit has been updated) offered with approved and paid permits for 5 additional units plus structured parking. The redevelopment plan includes 3 × 4BR/3BA & 2 × 3BR/2BA ADUs above parking — conservatively modeled to generate AN ADDITIONAL $23,000/month in rent once built. Pro-forma NOI (post-build) projects to ~$316,739 on gross schedule income of ~$444,120/year. Permits are in hand, making this a fast-to-market value play. Located near freeway access, top Long Beach dining and shopping corridors, and waterfront attractions. Excellent for investors seeking both strong cash flow and development upside.

Listing Status:
Active
Date Added:
November 21, 2025 at 06:00AM
Listing Office:
EXP REALTY OF CALIFORNIA INC : 888-584-9427
Listing Agent:
JENNIFER MENDOZA : 310-801-9060
MLS ID:
IV25264295
  • Laundry: Washer HookupElectric Dryer Hookup
  • General: 2
  • Originating MLS: CRMLS_CRM
  • County: Los Angeles
  • Zoning: 7266009015
  • Water: Public
  • Source: CRMLS_CRM

This listing courtesy of JENNIFER MENDOZA, EXP REALTY OF CALIFORNIA INC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

R

Robert Louis Stevenson Elementary School

515 Lime Ave, Long Beach, CA, 90802

Grades KG-5

0.31 miles away

F

Franklin Classical Middle School

540 Cerritos Ave, Long Beach, CA, 90802

Grades 6-8

0.08 miles away

R

Renaissance High School for the Arts

235 E 8th St, Long Beach, CA, 90813

Grades 9-12

0.72 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.