$ 1,325,000
4024 E 5th Street Long Beach, CA 90814
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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Listed by Sarah Sees Smith • Seven Gables Real Estate
$ 1,325,000
Est. payment /mo
Active Under Contract
4024 E 5th Street Long Beach, CA 90814
2,040 SqFt
UPDATED:
11/23/2024 04:23 AM
Key Details
Property Type Single Family Home
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 2,040 sqft
Price per Sqft $649
Subdivision Belmont Heights
MLS Listing ID PW-24167619
Style Spanish
Year Built 1924
Lot Size 6,770 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
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Inclusions Seller owned appliances.
Laundry Dryer Included, Individual Room, Washer Included
Exterior
Garage Garage, Uncovered
Garage Spaces 2.0
Pool None
Community Features Curbs, Sidewalks, Storm Drains, Street Lights
Building
Lot Description Rectangular Lot, Zero Lot Line
Sewer Public Sewer