Apartment for sale in Southern California — $1,650,000. Amazing! Listing price reduced $340K. Well maintained Mediterranean 5 plex is just blocks to the beach. Popular rental residential area. All units are 2 BR/1BA. 4 units are 1242 sqft and the unit above the detached 4…
$1,650,000
3121 E 5th 5, Long Beach, CA 90814
Amazing! Listing price reduced $340K. Well maintained Mediterranean 5 plex is just blocks to the beach. Popular rental residential area. All units are 2 BR/1BA. 4 units are 1242 sqft and the unit above the detached 4 single car garages is 854 sqft. As the owners upgraded units, they preserved many original, ornate features such as tile work, arched openings to dining rooms, coved ceilings and polished hardwood floors. Common area laundry room. Unit #3127 will remain not rented. With the actual current rents + 1 vacancy, the CAP rate is 4.8%. Potential upside is high for investors with building improvement in mind. Potential pro-forma rent total is $152,400 and NOI can be $127,089. Potentially 6.4% CAP rate and 13 GX. It is a fantastic investment opportunity.
Listing updated: July 1, 2026 at 10:27 PM
Listed by: Ikumi Baker, Remco - A. R. E. & Mgmt. Co.
Source: CRMLS, MLS#: PW26116533, Originating MLS: California Regional MLS
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| Date | Event | Price |
|---|---|---|
6/12/2026 Source: CRMLS, #PW26116533 | Price change | $1,650,0000.0% |
| 6/12/2026Source: CRMLS, #PW26116533 | Pending sale | $1,650,000-17.1% |
| 5/30/2026Source: CRMLS, #PW26116533 | Listed for sale | $1,990,000 |
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