5285 E The Toledo, Long Beach, CA 90803

$2,250,000
List Price
$2,250,000
Status
ACTIVE
MLS#
OC24065252
Year Built
1947
Lot Size
3,484
Acres
0.08
Lot Location
Street Level
Days on Market
17
Property Type
Multifamily
Property Sub Type
Apartment
Stories
Two Levels
Neighborhood
Belmont Shore (Bsd)

Property Description

5285 East The Toledo is a rare 8-unit multifamily investment property located in the prime Belmont Park neighborhood of Long Beach, CA. 5285 East The Toledo offers investors an opportunity to preserve its existing vintage and character, while allowing a new investor to capture upwards of 30% rental upside by modernizing the apartment’s interiors. Situated in a prime Belmont Park location, 5285 East The Toledo offers exclusively studio floor plans measuring approximately 424 square feet. Residents enjoy the property’s idyllic location within walking distance of the abundance of retail, dining, and entertainment options at Belmont Shore’s 2nd Street. The property is also just over 1 mile from 2nd & PCH, a recently developed open-air mall, providing residents with convenient access to a plethora of popular retailers and restaurants. Additionally, 5285 East The Toledo is in close proximity to Marine Stadium, Marina Vista Park, and Alamitos Bay, providing residents with an abundance of recreational opportunities. Furthermore, the property’s close proximity to Pacific Coast Highway provides residents with easy access throughout Long Beach and neighboring coastal cities.

Additional Information

Pool Description
None
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
8
Gross Scheduled Income
$140,767
Operating Expense
47747

Listing courtesy of Listing Agent: Tyler Leeson (tleeson@marcusmillichap.com) from Listing Office: Marcus & Millichap RE Invest.

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.