509 E 5th St

Long Beach, CA 90802

$1,600,000
Last Sold Price
4
Beds
7
Baths
4,666 Sq. Ft.
$343 / Sq. Ft.
4,666
Sq. Ft.
$343
per Sq. Ft.

Description

We are pleased to announce the listing of 509-519 E. 5th St 7-unit apartment community located in Long Beach, California. A perfect downtown Long Beach investment property. Totally TURN KEY with 7 unique units located in the heart of a fast growing and invigorating city and only 5 blocks to the beach. This property provides the right investor an opportunity to acquire a turnkey asset that has had extensive repairs and renovations. This exciting location falls within the PD-30 Plan for downtown and...We are pleased to announce the listing of 509-519 E. 5th St 7-unit apartment community located in Long Beach, California. A perfect downtown Long Beach investment property. Totally TURN KEY with 7 unique units located in the heart of a fast growing and invigorating city and only 5 blocks to the beach. This property provides the right investor an opportunity to acquire a turnkey asset that has had extensive repairs and renovations. This exciting location falls within the PD-30 Plan for downtown and located in the height incentive area for future investors to build up! There are 4 large one bedroom one bath with a lovely balance of upgrades located on the front side of the property. A separate 2 bedroom 1 bath house, stand alone unit, in the middle of the property (the only unit that could use some upgrades.) The last two units are adorable studio apartments located above the 4 single car garages in the back of the property. A courtyard separates the three structures making a great area to rest and play outside. This investment property has it all. Close to THE PIKE, shoreline drive, the art district, the promenade and easy freeways. The property has been in the family trust for many years, with long term tenants and exceptionally low rents for the area. Great opportunity for a 10-31 exchange!!

Listing Agents

  1. Tyler Luckey

    Tyler Luckey

    Listing Agent

    Compass

    DRE #01978990

    tyler.luckey@compass.com

    P: (562)-254-1325

  2. Pam Luckey

    Pam Luckey

    Alternative Listing Agent

    Compass

    DRE #00751586

    pam.luckey@compass.com

    P: (562)-307-4367

Property Details for 509 East 5th Street

View
None
Parking Spaces Total
4
Private Pool
No
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Lot Size Dimensions
150 x 50
Living Area
4666
LISTING UPDATED: 02/25/2021 11:29 AM

Property Details for 509 East 5th Street

StatusClosed
MLS #PW21020669
Days on Market2
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1921
CountyLos Angeles County
Buyer's Agent Compensation3%

Location

Listing Courtesy of Compass, Tyler Luckey, DRE #01978990; Compass, Pam Luckey, DRE #00751586

Sold By Buckingham Investments, Inc, Anthony Walker, DRE #01908153

Add your commute

Building Information for 509 East 5th Street

Building/Complex509 E 5th StFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1921Building Size-

Payment Calculator

$10,602 per month

30 year fixed, 6.845% Interest

Principal and Interest

$8,383

Property Taxes

$2,219

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 509 East 5th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $81,216
  • Gross Scheduled Income: $81,216
  • Vacancy Allowance Rate: 1
  • Net Operating Income: $55,516
  • Number Of Rented Garages: 4
  • Garage Income: $50
  • Cap Rate: 3.46
  • Current Financing: None
  • Financing: Other/Remarks
Expense Details
  • Operating Expense: $25,700
  • Operating Expense Percent: 31.52%
  • New Taxes Expense: $18,000
  • Fuel Expense: $0
  • Electric Expense: $500
  • Insurance Expense: $1,500
  • Professional Management Expense: $5,200
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $25,700
Tax / Assessment Info
  • Tax Block: 52
  • Tax Tract Number: 5762
  • Tax Census Tract: 5762.00
  • Tax Lot: 20
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Yard
  • Number Of Units: 7
  • Levels: Two
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Garage Faces Rear
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: $1,191
  • Unit Type Total Rent: $1,191
  • Unit Type Pro Forma: 1998
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,200
  • Unit Type Total Rent: $2,400
  • Unit Type Pro Forma: 3466
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $866
  • Unit Type Total Rent: $1,732
  • Unit Type Pro Forma: 3466
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $866
  • Unit Type Total Rent: $866
  • Unit Type Pro Forma: 1325
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $595
  • Unit Type Total Rent: $595
  • Unit Type Pro Forma: 1325
  • Unit Type Type: 5
Unit Information
  • Number Of Units Leased: 7
  • Rent Controlled: No
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 7

Property History for 509 East 5th Street

DateEvent & SourcePriceAppreciation
Feb 25, 2021

Sold

CRMLS #PW21020669

$1,600,000—
Feb 25, 2021

Sold

SDMLS #PW21020669

$1,600,000—
Feb 25, 2021

Sold

CLAW #PW21020669MR

$1,600,000—
Feb 18, 2021

Pending

SDMLS #PW21020669

—
Feb 11, 2021

Sold (Public Record)

Public Record #690987979

$1,600,000—
Feb 11, 2021

Sold (Public Record)

Public Record #1452136982

$1,600,000—
Feb 8, 2021

Accepting Backup Offers

SDMLS #PW21020669

—
Feb 5, 2021

Pending

CLAW #PW21020669MR

—
Feb 5, 2021

Accepting Backup Offers

CLAW #PW21020669MR

—
Feb 5, 2021

Pending

SDMLS #PW21020669

—
Feb 5, 2021

Pending

CRMLS #PW21020669

—
Feb 3, 2021

Listed (Active)

SDMLS #PW21020669

$1,600,000—
Feb 3, 2021

Listed (Active)

CRMLS #PW21020669

$1,600,000—
Feb 3, 2021

Listed (Active)

CLAW #PW21020669MR

$1,600,000—
DateEvent & SourcePrice
02/25/2021

Sold

CRMLS #PW21020669

$1,600,000
02/25/2021

Sold

SDMLS #PW21020669

$1,600,000
02/25/2021

Sold

CLAW #PW21020669MR

$1,600,000
02/18/2021

Pending

SDMLS #PW21020669

—
02/11/2021

Sold (Public Record)

Public Record #690987979

$1,600,000
02/11/2021

Sold (Public Record)

Public Record #1452136982

$1,600,000
02/08/2021

Accepting Backup Offers

SDMLS #PW21020669

—
02/05/2021

Pending

CLAW #PW21020669MR

—
02/05/2021

Accepting Backup Offers

CLAW #PW21020669MR

—
02/05/2021

Pending

SDMLS #PW21020669

—
02/05/2021

Pending

CRMLS #PW21020669

—
02/03/2021

Listed (Active)

SDMLS #PW21020669

$1,600,000
02/03/2021

Listed (Active)

CRMLS #PW21020669

$1,600,000
02/03/2021

Listed (Active)

CLAW #PW21020669MR

$1,600,000

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

Public Records for 509 East 5th Street

Taxable ValueLand$1,269,900Additions$765,285Total$2,035,185
Tax Record2024$26,624 ($2,219 / month)
Home Facts
Total Finished SqFt4,666 SqFtAbove Grade Finished SqFt4,666 SqFtLot Size7,503 SqFtStyleMulti-Family Res (5+ Units)ZoningLBPD30CountyLOS ANGELESAPN7281-002-009

Schools near 509 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
Stevenson Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Renaissance High School For The Arts
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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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 Compass, Tyler Luckey, DRE #01978990; Compass, Pam Luckey, DRE #00751586

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.