$1,395,000/mo

531 W 5th Street, Long Beach, CA 90802

3,344 sqft

Rent shown is base rent as provided by the property owner or manager. Additional mandatory fees, deposits, or utilities may apply and are set by the property owner or manager.

Rental
Built in 1923
7,518sqft lot
4 car garage
$417/sqft
Listed 6 days ago

Property Description

Ideal Owner-User Opportunity Near Downtown Long Beach 531 W 5th St is a 7-unit multifamily investment offering a rare combination of owner-user flexibility, in-place income, and upside through previously approved development plans. The property features a vacant 3-bedroom/1-bath front house with a full kitchen, dedicated dining area, Ring camera, and mini-split system, giving an owner-occupant the privacy and feel of a standalone home while collecting rental income from the remaining six units. At current rents, the property produces a 6.02% cap rate and 10.87 GRM. Previously approved plans are in place for a 3-bedroom/2-bath ADU, which brings the property to a 8.23% cap rate (including estimated construction costs) once built, a clear value-add path for an investor or owner-user looking to grow into the deal. The property also includes a vacant 5-car garage, which a buyer can lease for parking income or convert as part of the ADU plan. Located minutes from Downtown Long Beach, the property is close to the area's restaurants, bars, shopping, entertainment, waterfront, and major transportation corridors. Between the private 3-bedroom residence, six income-producing units, previously approved ADU plans, and a vacant 5-car garage, 531 W 5th St gives an owner-user or investor multiple ways to build equity in one property.