4024 East 5th Street

Long Beach, CA 90814

$1,325,000
Price
4
Beds
2
Baths
2,040 Sq. Ft.
$650 / Sq. Ft.
2,040
Sq. Ft.
$650
per Sq. Ft.

Description

Unlock the potential of this Spanish-style duplex, ideally situated in the highly desirable Belmont Heights Historic Neighborhood. This investment property combines timeless architectural appeal with immediate income-generating potential, making it a standout addition to any portfolio. Both units are currently tenant-occupied with rents at or near market value, providing steady income from day one. The property has been freshly painted, ensuring low maintenance costs and strong tenant retention....Unlock the potential of this Spanish-style duplex, ideally situated in the highly desirable Belmont Heights Historic Neighborhood. This investment property combines timeless architectural appeal with immediate income-generating potential, making it a standout addition to any portfolio. Both units are currently tenant-occupied with rents at or near market value, providing steady income from day one. The property has been freshly painted, ensuring low maintenance costs and strong tenant retention. A newly constructed deck enhances the property's appeal, offering additional outdoor living space. Adding to the property's allure is its expansive lot, complete with mature orange trees that not only enhance the landscape but also offer an extra selling point for future tenants. The sizable lot presents a unique opportunity for further development, including the addition of ADUs (Accessory Dwelling Units), allowing you to maximize rental income and significantly increase property value (buyer to verify with City of Long Beach). Looking ahead, the upcoming 2028 Olympic Games in Long Beach presents a unique advantage for investors. With Long Beach set to host several Olympic events, the area is expected to see a surge in demand for short-term and long-term rentals, driving potential increases in rental income and property value. This duplex offers the perfect opportunity to capitalize on the increased attention and influx of visitors to the area, making it an even more attractive investment. This property is not just a piece of real estate; it’s a strategic investment in one of Long Beach's most storied neighborhoods. Whether you’re looking to expand your portfolio or capitalize on the growing demand for quality rental properties, this duplex offers both immediate returns and long-term appreciation potential. Seize this rare opportunity to invest in Belmont Heights—where historic charm meets modern profitability!
  1. Listed by Sarah Sees Smith • DRE #02139512 • Brokerage DRE #00745605 • Seven Gables Real Estate • sarahs@sevengables.com

Property Details for 4024 East 5th Street

Architectural Style
Spanish
Parking Spaces Total
5
Private Pool
No
Cooling Type
N/K
Total Units
2.0
Building Type
Detached
Lot Size Source
Public Records
Living Area
2040
LISTING UPDATED: 11/04/2024 09:30 PM

Property Details for 4024 East 5th Street

StatusActive
MLS #PW24167619
Days on Market49
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.16 AC / 6,770 SF
CountyLos Angeles County

Building Information for 4024 East 5th Street

Stories2Residences-Year Built1924Building Size-Lot Size0.16 AC / 6,770 SF

Property Information for 4024 East 5th Street

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $59,700
  • Gross Scheduled Income: $59,700
  • Net Operating Income: $38,900
  • Number Of Rented Garages: 2
  • Garage Rental Rate: $0
  • Garage Income: $0
  • Laundry Income: $0
  • Current Financing: Conventional
  • 433a Certified: No
Expense Details
  • Operating Expense: $20,800
  • New Taxes Expense: $16,500
  • Gardener Expense: $1,800
  • Insurance Expense: $2,500
  • Trash Expense: $0
  • Total Expenses: $20,800
Tax / Assessment Info
  • Tax Tract Number: ANDER
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 4
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Individual Room, Washer Included
  • Laundry Equipment Own Lease: Own
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Entry Location: Ground Level
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Rectangular Lot, Zero Lot Line
  • Number Of Units: 2
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Garage, Uncovered
  • Uncovered Spaces: 3
  • Open Other Spaces Total: 3
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
  • Parking Features: Garage, Uncovered
Property / Structure Info
  • Builders Tract Name: Belmont Heights
  • Builders Tract Code: Belmont Heights (BH)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,600
  • Unit Type Total Rent: $2,600
  • Unit Type Pro Forma: 2750
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,375
  • Unit Type Total Rent: $2,375
  • Unit Type Pro Forma: 2750
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2

Property History for 4024 East 5th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 4024 East 5th Street

Taxable ValueLand$487,861Additions$376,348Total$864,209
Tax Record2024$11,109 ($926 / month)
Home Facts
Total Finished SqFt2,040 SqFtAbove Grade Finished SqFt2,040 SqFtLot Size6,768 SqFtStyleDuplexYear Built1924ZoningLBR2NCountyLOS ANGELESAPN7255-019-008

Schools near 4024 East 5th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Fremont Elementary School
PublicK to 5

Rogers Middle School
Public6 to 8

Wilson High School
Public9 to 12

Richard D. Browning High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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4024 East 5th Street is a multi-family home for sale in Long Beach, CA 90814. This property was listed for sale on April 24, 2024 by Seven Gables Real Estate, it's currently listed at $1,325,000. It has been on the market for a total of 49 days and was last sold on March 18, 2004. This listing's school district is Long Beach Unified School District. Nearby schools include Fremont Elementary School, Rogers Middle School and Wilson High School. 4024 East 5th Street is a 4-bed, 2-bath, 2,040 sqft multi-family home built in 1924.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Seven Gables Real Estate, Sarah Sees Smith, DRE #02139512

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.