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3121 E 5th Street

Long Beach, CA 90814

$2,595,000 $10,940/Mo

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Overview

Bed

Bath

0.15

Acre(Lot)

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. Owne rship 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.

Property Details

Property Type : ResidentialIncome

Price : $2,595,000

AD Id : 91615707

MLS Id : OC26214397

Beds : 2

Lot Size : 0.15 Acre

Year Built : 1930

Garage : 4

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Building Information

Year Built: 1930

Building Area Total: 5822

Stories: 2

Pool Features: None

Private Pool: No

Lot Information

Main Square Feet: 0.15 Lot Size Acres: 0.15 Lot Size Source: Assessor Lot Size Square Feet: 6,534 Lot Description: StreetLevel

Property Information

Subdivision: Eastside (ES) Source Property Type: ResidentialIncome Property SubType: Apartment Levels: Two Property Age: 96

Listing Price Information

Listing Price: $2595000

Cash, CashToNewLoan, Conventional, Exchange1031

Tax Information

Parcel Number: 7257006027 Tax Lot: 22 Tax Block: G

Parking Information

Parking Total: 8

Garage Information

Has Garage: Yes Garage Space: 4

Location Information

Direction: Cross Streets of East 5th Street & Molino Avenue WaterSource: Public

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