We are pleased to present an eight unit multifamily asset located at 2930 E 5th Street in Long Beach, California. Built in 1963, the subject property consists of 6,702 rentable square feet spread throughout a 0.15 acre lot. The building consists of seven 2-Bedroom / 1- Bathroom units and one 3- Bedroom/ 2-Bathroom unit. Owners enjoy the high demand for rentals in a coastal city of Southern California. Located just off the retro row corridor of 4th street, 2930 E 5th is considered a "walker's paradise" with a "walk score" of 91, ideal for tenants who can easily get to restaurants, shopping, entertainment, and schools by foot. Tenants are also easily able to commute to large employment centers like Downtown Long Beach and CSULB, both just a few miles away. In addition, all of the eight units have been extensively renovated, including, but not limited to, new flooring, new cabinets, new fixtures, new electrical subpanels, and new paint. Those units are achieving top of market rents, demonstrating the viabilty of this asset in a prime Belmont Heights location. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a great location with strong current income that will provide a stable return.
Property Details
Property Features
Property Information:
Year Built: 1963
Stories: 2
Listing Office:
Office Name: Marcus & Millichap
Office Email: kking@marcusmillichap.com
Listing Agent: Kevin King
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Garage Space: 4 spaces
Lot Features
Lot Information:
Lot Size: 0.15 Acres
Other
Directions Information:
Directions: Near Redondo Avenue & 4th Street
Price Information
Listing Price Info
Price Summary:
List Price: $3,450,000
Tax Information:
Annual Amount: $13,015
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Long Beach, CA.
This property is $2.6M more than the Median Sold Price in Long Beach, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #PW24047730
Listing Office:
Office Name: Marcus & Millichap
Office Email: kking@marcusmillichap.com
Listing Agent: Kevin King
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/27/2024, 11:25:19 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Mar 31, 2021
Mar 31, 2021Home Sold
$2,175,000
Jul 30, 2002
Jul 30, 2002Home Sold
$725,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$13,015
$970,063
2020
$12,828
$960,117
2019
$12,440
$941,292
2018
$12,309
$922,836
2017
$12,309
$904,743
History based on county public records data.
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NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
3
/10
Mann Elementary School
257 Coronado Ave
Distance between this listing and this school0.37 miles
Public District Grades KG-5
5
/10
Burbank Elementary School
501 Junipero Ave
Distance between this listing and this school0.44 miles
Public District Grades KG-5
4
/10
Willard Elementary School
1055 Freeman Ave
Distance between this listing and this school0.53 miles
Public District Grades KG-5
Nearby Schools
5
/10
Jefferson Leadership Academies
750 Euclid Ave
Distance between this listing and this school0.58 miles
Public District Grades 6-8
6
/10
Franklin Classical Middle School
540 Cerritos Ave
Distance between this listing and this school1.19 miles
Public District Grades 6-8
7
/10
Rogers Middle School
365 Monrovia Ave
Distance between this listing and this school1.53 miles
Public District Grades 6-8
Nearby Schools
5
/10
Wilson High School
4400 E 10th St
Distance between this listing and this school1.00 miles
Public Magnet Grades 9-12
5
/10
Polytechnic High School
1600 Atlantic Ave
Distance between this listing and this school1.86 miles
Public Magnet Grades 9-12
4
/10
Renaissance High School For The Arts
235 E 8th St
Distance between this listing and this school1.94 miles
The neighbors living near this home have an average income of $57,922. Residents of Long Beach, CA typically earn between $35k-100k each year. The majority of families are single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 2930 E 5th St
What is the listing price of this property?
The listing price of 2930 E 5th St property is $3,450,000.
What type of property is this?
The property 2930 E 5th St is a condo located in Long Beach, California, 90814.
Is this property for sale now?
Active Listing: 2930 E 5th St is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $13,015 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on March 31, 2021 for $2,175,000. (source: MLS/tax record).
Which year was this property built?
The year of construction for 2930 E 5th St is 1963.
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This home is located at 2930 E 5th St in Long Beach, CA and zip code 90814 in the The Harbor neighborhood. This home, which was built in 1963, sits on a 0.15 acre lot. It has been listed on Rocket Homes since March 08, 2024 and is currently priced at $3,450,000.
Long Beach, CA housing market in March 2024 saw over 76 listings sold above listed price, more than 39 sold at listed price and over 59 sold below. In March 2024 in Long Beach, CA there were 1.8% more homes for sale than in February 2024. In March 2024, listings were on the market for 31 days. During the same period, the median list price in this real estate market was $790,000.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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