3121 E 5th StreetLong Beach, CA 90814

Description

3121 East 5th Street is a 5-unit multifamily investment property located in Long Beach, California. Constructed in 1930 and known as Casa Valencia, the property features a unit mix of five 2-bed/1-bath residences totaling 5,822 square feet. Four of the units offer approximately 1,242 square feet of living space, while the fifth totals approximately 854 square feet. Four single-car garages and four surface space provide an attractive parking ratio. Casa Valencia retains a collection of original Spanish Revival details that distinguish the property from more conventional apartment inventory. Architectural features include plaster barrel-vaulted ceilings, curved archways and period Spanish Revival fixtures, complemented by oak flooring and dedicated dining rooms in 4 of the 5 residences. Ownership has renovated 2 of the 5 units with new kitchens, stainless-steel appliances and in-unit washer/ dryers while also completing electrical and exterior improvements throughout the property. Most notably, Unit 3127, the renovated 1,242-square-foot residence, currently rents for $3,495 per month, compared with approximately $1,770 to $2,528 for the three remaining residences of the same size. This in-place performance provides a clear benchmark for the property’s value-add potential as the remaining units are improved over time. Located in Long Beach’s 90814 ZIP, Casa Valencia places residents near Fourth Street’s Retro Row, Bluff Park and the coastline, with convenient access to Belmont Shore, Downtown Long Beach and the surrounding area’s dining, shopping and recreational destinations. Together, Casa Valencia’s preserved architectural character, oversized 2-bedroom floor plans and demonstrated renovation premium provide a distinctive foundation for continued value creation.

Property Information

Property type

Residential Income

Sub-type

Apartment

Year built

1930

Stories

2

Building area

5,822 Sq Ft

Lot size

0.15 acres

Garage spaces

4

Parking spaces

8

Days on market

5

MLS^® Listing#

OC26214397

Property Features

Pool

None

Laundry

Inside

Community

Curbs · Street Lights · Sidewalks

Sewer

Public Sewer

Water source

Public

Financial Details

HOA

None

Parcel number

7257006027

Directions

Cross Streets of East 5th Street & Molino Avenue