3121 E 5th 5, Long Beach, CA 90814

About this property

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 description from the July 2026 sale, as reported to CRMLS.

Sale history

$1,500,000

Sold July 2026 · listed $1,650,000, orig. $1,990,000, on market May 2026 · MLS #PW26116533 · Source: CRMLS

Listing Agent: Ikumi Baker · Listing Office: Remco - A. R. E. & Mgmt. Co. · Contact: 562-310-0490 · Bought with: Ikumi Baker · Remco - A. R. E. & Mgmt. Co.

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