4024 E 5th Street, Long Beach, CA 90814 - MLS#PW24167619

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Ricardo Gil Jr

rgiljr@gilsre.com +1(209) 226-9649

$1,325,000

Est. payment - /mo

6,769 Sqft Lot

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UPDATED:

11/23/2024 01:50 AM

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision Belmont Heights (Bh)

MLS Listing ID PW24167619

HOA Y/N No

Year Built 1924

Lot Size 6,769 Sqft

Property 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. 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!

Location

State CA

County Los Angeles

Area 2 - Belmont Heights, Alamitos Heights

Interior

Heating Wall Furnace

Cooling None

Fireplaces Type None

Inclusions Seller owned appliances.

Fireplace No

Appliance Dryer, Washer

Laundry Laundry Room

Exterior

Garage Garage, Uncovered

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks

Total Parking Spaces 5

Private Pool No

Building

Lot Description Rectangular Lot, Zero Lot Line

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Spanish

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7255019008

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Trust

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Listed by Sarah Sees Smith • Seven Gables Real Estate • sarahs@sevengables.com

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Ricardo Gil Jr

+1(209) 226-9649

Broker | CA DRE#01800755

Broker CA DRE#01800755