The Agency The Agency

1116 E 5th St

Long Beach, CA 90802
no longer available
Last Listed Price $2,600,000
Property Type Income Property
Beds 8
Baths 8

Property Description

EXCELLENT ASSUMABLE FINANCING FIXED AT 3.71% THROUGH MARCH 2031. Earn a 5.5% CASH ON CASH return against in place income. 8 units located blocks from the Beach in Alamitos Beach in Long Beach. All units have been heavily updated including new kitchens and baths. There is no work to be done. The property is professionally maintained and in excellent condition. 4.6% CAP against in place rents with upside to a 6.2% CAP. The property features onsite laundry as well a 5 garages (rented as storage) and 4 parking spaces. The existing TD can be assumed. It's a $ fixed for 10 years (originated in March 2021) at 3.71% with 3 years of I/O (runs through March 2024). There is also an opportunity to convert existing garages to ADU's. You can add TWO units. Option 1 - one unit approx. 825 SF (1/1 or 2/1) and a studio (305 SF). Option 2 - Two studios (approx. 400 SF each). NOTE: this will take up most of the garages onsite. Option 1 could generate additional rental income of $3,200/month in income and Option 2 could general additional income of $2,800/month- Buyer to verify. If you were to build the ADU's, you'd achieve an approximate 6.2% CAP. EMAIL LA1 FOR MORE INFO AND A RENT ROLL.

Property Specifics

Property Type: Income Property
Monthly Common Charges: $67,000
Estimated Sq. Foot: 6,156
Lot Size: 8,973 sq. ft.
Price per Sq. Foot: $422
Building Units: N/A
Building Stories: N/A
Pet Policy: N/A
MLS ID: 22-140463

Building Amenities


Unit Amenities

Garage Is Attached

Location & Transportation

Other Property Information


General Information
  • Year Built: 1929
  • Year Built Source: Vendor Enhanced
  • Parking Features: Garage Is Attached

Interior and Exterior Features

Interior Features
  • Living Area: 6,156 sq. ft. (source: Vendor Enhanced)
  • Total Bedrooms: 8
  • Full Bathrooms: 8
  • Other Equipment: None

Property Information

Lot Information
  • Zoning: LBR3S
  • Lot Size: 8,973.36 sq. ft. (source: Vendor Enhanced)
  • Cooling: None

Estimated Monthly Payments

Monthly Total $79,471
Monthly Charges $67,000
Monthly Taxes N/A
Interest 6.00%
Down Payment 20.00%

Mortgage Calculator

Monthly Mortgage Cost $12,471 Monthly Charges $67,000 Total Monthly Payment $79,471
Calculation based on:
Price: $2,600,000
Charges: $67,000 * Additional charges may apply

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Building Information

Building Name: N/A
Property Type: Income Property
Building Type: N/A
Pet Policy: N/A
Units: N/A
Stories: N/A
Built In: 1929
Sale Listings: 0
Rental Listings: 0
Land Lease: N/A
Listing information provided by the Combined LA/Westside Multiple Listing Service, Inc.. All information is deemed reliable but not guaranteed. Copyright 2023 Combined LA/Westside Multiple Listing Service, Inc., Los Angeles, California. All rights reserved.
Last checked: Sep 26, 2023, 10:03 PM UTC
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