441 E 5th St
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441 E 5th St
4 Unit Block of Flats £1,173,675 (£293,419/Unit) 4.32% Net Initial Yield Long Beach, CA 90802
Investment Highlights
- Incredible location! Downtown Art's District!
- Laundry room in each unit - 2 onsite parking spaces - possibly three
- PD-30 Zoning!
- Rents 20% below market - Value add opportunity!
- Short distance to coffee shops, restaurants, shopping and metro
Executive Summary
Pride of Ownership, Trophy Property! Located within Downtown's highly sought after "Arts District", merely footsteps to everything that's wonderful about Long Beach. 441 E. 5th street is a picturesque early 1900's building, featuring classic characteristics and qualities of early 20th century architecture – boasting high ceilings, built in cabinetry, hardwood flooring, large open floor plans and an abundance of natural light. The building has been nicely maintained and professionally managed over the years. Recent updates include: Fresh interior/exterior paint, all new repipe (2023) refinished floors.
Leasing in this location is in incredibly high demand, due to the buildings design, unit floor plans and proximity to the ocean, restaurants, trendy coffee shops and high end retail stores. Long Beach’s “2nd street”, is well known for its amazing fashion stores, restaurants, bars and coffee shops, located just a short drive down Ocean blvd!
Leasing in this location is in incredibly high demand, due to the buildings design, unit floor plans and proximity to the ocean, restaurants, trendy coffee shops and high end retail stores. Long Beach’s “2nd street”, is well known for its amazing fashion stores, restaurants, bars and coffee shops, located just a short drive down Ocean blvd!
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,173,675 | Building Class | C |
| Price Per Unit | £293,419 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 3,520 SF |
| Net Initial Yield | 4.32% | Average Occupancy | 4% |
| Gross Rent Multiplier | 15.24 | Number of Floors | 2 |
| No. Units | 4 | Year Built/Renovated | 1918/2020 |
| Property Type | Residential | Parking Ratio | 0.57/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £1,173,675 |
| Price Per Unit | £293,419 |
| Sale Type | Investment |
| Net Initial Yield | 4.32% |
| Gross Rent Multiplier | 15.24 |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 3,520 SF |
| Average Occupancy | 4% |
| Number of Floors | 2 |
| Year Built/Renovated | 1918/2020 |
| Parking Ratio | 0.57/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | £1,565 | 880 |
1 of 1
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 7281-002-027 | Total Assessment | £829,192 (2024) |
| Land Assessment | £580,436 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £248,757 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
7281-002-027
Land Assessment
£580,436 (2024)
Improvements Assessment
£248,757 (2024)
Total Assessment
£829,192 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
zoning
| Zoning Code | PD30 |
| PD30 |
-
Cameron Jacques -
Kinnery's Brokerage House and Elite Property
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441 E 5th St
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