Address
531 W 5th Street, Long Beach, CA
Price
$ 1,395,000
Property Attributes
- MLS#SB26181225
- TypeMulti-Family
- Listing Status Active
- CountyLos Angeles
- CityLong Beach
- Area Downtown Area, Alamitos Beach
- NeighborhoodAlamitos Beach (AB)
- Zip90802
- Style
- Year Built1923
- Price$ 1,395,000
- Bedrooms0
- Full Bathrooms1
- Half Bathrooms0
- Sqr Footage3344
- Lot Size0.1726 Acres
Data Source:
California Regional MLS (CRMLS)
Property Description
Ideal Owner-User Opportunity Near Downtown Long Beach 531 W 5th St is a 7-unit multifamily investment offering a rare combination of owner-user flexibility, in-place income, and upside through previously approved development plans. The property features a vacant 3-bedroom/1-bath front house with a full kitchen, dedicated dining area, Ring camera, and mini-split system, giving an owner-occupant the privacy and feel of a standalone home while collecting rental income from the remaining six units. At current rents, the property produces a 6.02% cap rate and 10.87 GRM. Previously approved plans are in place for a 3-bedroom/2-bath ADU, which brings the property to a 8.23% cap rate (including estimated construction costs) once built, a clear value-add path for an investor or owner-user looking to grow into the deal. The property also includes a vacant 5-car garage, which a buyer can lease for parking income or convert as part of the ADU plan. Located minutes from Downtown Long Beach, the property is close to the area's restaurants, bars, shopping, entertainment, waterfront, and major transportation corridors. Between the private 3-bedroom residence, six income-producing units, previously approved ADU plans, and a vacant 5-car garage, 531 W 5th St gives an owner-user or investor multiple ways to build equity in one property.
| Price History | |
|---|---|
| 8/18/2026 | Listed $1,395,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Garage Spaces | 4 |
| Pool Features | None |
| Year Built | 1923 |
| Property Subtype | Apartment |
| Gross Income | 128354 |
| Community Features | Curbs,Suburban,Sidewalks,Urban |
| County | Los Angeles |
| Net Operating Income | 83926 |
| Operating Expense | 40578 |
| New Construction | false |
| Property Type | Residential Income |
| Subdivision Name | Alamitos Beach (AB) |
| Garage Y/N | true |
| Special Listing Conditions | Standard |
| Status | Active |
| Directions | east of Pacific Avenue and west of Magnolia Avenue |
| City | Long Beach |
| Entry Location | Front |
| Senior Community Y/N | false |
| Number Of Units Total | 7 |
| MLS Area | 4 - Downtown Area, Alamitos Beach |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 7518 |
| Listing Terms | Cash,Cash to New Loan,Conventional,Contract |
| Property Attached Y/N | false |
| Land Lease Y/N | false |
| Additional Parcels Y/N | false |
| Rent Control Y/N | true |
| Building Area Units | Square Feet |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 22 |
| Property Sub Type Additional | Apartment |
| Cap Rate | 6.02 |
| PostalCity | LONG BEACH |
Interior Features
| Total Stories | 1 |
|---|---|
| Common Walls | No Common Walls |
| Laundry Features | None |
| Entry Level | 1 |
Exterior Features
| Lot Features | 0-1 Unit/Acre |
|---|---|
| Water Source | Public |
| Total Parking | 4 |
| Lot Size Area | 7518 |
| Number of Buildings | 3 |
| Building Area Total | 3344 |
| Lot Size Acres | 0.1726 |
| Private Pool | false |
| Lot Size Source | Assessor |
| Number of Separate Water Meters | 1 |
| Number of Separate Gas Meters | 7 |
| Number of Separate Electric Meters | 7 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 90802
Price
Year Built
Based on information from California Regional Multiple Listing Service, Inc. as of September 21, 2026 4:45 AM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
