5729 California Avenue, Long Beach, CA 90805

About this property

5729 California Avenue is a seven-unit property located in North Long Beach. The property is comprised of six (6) studio units and a detached, remodeled 2BD/1BA house. The house was completely renovated as of 2022. The property is priced at 11.96 x gross and 5.18 cap rate on current rents. A new owner has the opportunity to increase rents and achieve 10.60 x gross and 6.17% cap rate. Additional income generating opportunities for a new owner include renting out storage spaces and surface parking spots on the property. Each building has its own electric meter, and a new owner could implement RUBS to further bring down operating expenditures.

Listing description from the August 2023 sale, as reported to CRMLS.

Sale history

$1,450,000

Sold August 2023 · listed $1,475,000, on market March 2023 · MLS #PW23047866 · Source: CRMLS

Listing Agent: Robert Stepp · Listing Office: Keller Williams - Santa Monica · Contact: 310-463-2916 · Bought with: Edward Sanchez · SoCal Realty

$874,900

Sold August 2017 · listed $849,900, on market April 2017 · MLS #PW17089171 · Source: CRMLS

Listing Agent: Alex Figueroa · Listing Office: Keller Williams Pacific Estate · Contact: 562-261-0900 · Bought with: John Alden · Buckingham Investments, Inc.

$635,000

Sold May 2015 · listed $660,000, on market February 2015 · MLS #RS15037803 · Source: CRMLS

Listing Agent: Manny Fonseca · Listing Office: Keller Williams Whittier · Contact: 562-902-5100 · Bought with: Juan Garcia · Coldwell Banker Dynasty

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