1052 E 5Th Street

Long Beach, CA 90802

$1,600,000

List Price

10

bed Beds

5

shower Baths

3,421 sqft

straighten / sqft

1923

calendar_month Built

Property Description

Welcome to 1052 East 5th Street, a North Alamitos Beach Bungalow Court with 4 detached homes that are expertly sited around a lushly landscaped central courtyard. The detached separation of each home creates significant privacy and tranquility for each of its residents. With ample outdoor space, every occupant of this enviable compound can enjoy additional exterior square footage that will expand their living space. Located only 5 short blocks away from the ocean, rarely do investment properties deliver such a unique and high-demand unit mix in such a fabulous location. The Front Bungalow offers 3 bedrooms, 1 bathroom, washer and dryer, private front porch and direct access to the backyard – Bungalow A offers 3 bedrooms, 2 bathrooms, including a primary bedroom suite with attached bathroom, grassy front yard and washer and dryer – Bungalow B offers 2 bedrooms, 1 bathroom and vaulted ceilings – Bungalow C offers 2 bedrooms, 1 bathroom, front porch, washer and dryer and historic architectural details. This heritage investment property has been thoroughly upgraded and its current steward has spent over $200,000 in updates complete with modern kitchens, contemporary bathrooms and numerous systems upgrades. Parking concerns are alleviated with substantial off-street parking that generate additional monthly income of $180 per month. The magic of this property is undeniable and has resulted in long-term stable tenants that display clear pride in their homes. While vacancy has been limited historically, the largest home (Bungalow A!!!) is expected to be vacant soon which makes this a strong and viable option for an owner occupant who wishes to purchase an investment property, take advantage of owner-occupied financing (only 5% down!!!) and leverage the rental income from the additional 3 units and parking spaces ($!!!). Local area investment has been impressive with a newly built 6-unit building next door, street infrastructure improvements on adjacent Cerritos Ave and an extensive list of improvements occurring at the Franklin Classical Middle School. With simple access to Retro Row, the Broadway Corridor, Bixby Park, Bluff Park and the Paths along the Pacific Ocean, the magnitude of this location is undeniable. With its dynamic unit mix, numerous contemporary upgrades, supreme layout, magical outdoor space and prime location, this investment property presents a rare opportunity to attain a crown jewel.

Listing Information

List Price $1,600,000
Status Active
MLS PW24189803
HOA $0
Type Residential
Subtype Quadruplex
Year Built 1923
Lot Size 8,922
Structure Size 3,421
DOM 1
Courtesy Of eXp Realty of California Inc
Listing Agent Jeff Anderson DRE#01729514
Co-Listing Agent Torey Carrick DRE#01878468

Interior Features

Laundry Information
Location(s) Inside
Total Bedroom
Bedrooms 10
Bathroom Information
Features Bathtub, Separate Shower, Tub Shower
Total Bathroom
Bathrooms 5
Fireplace Information
Features None
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Jeff Anderson, Torey Carrick, eXp Realty of California Inc . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 14th, 2024 at 1:34 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.