$2,150,000
$2,195,000
2.1%For more information regarding the value of a property, please contact us for a free consultation.
1 Bath
3,484 Sqft Lot
SOLD DATE : 05/23/2024
Key Details
Sold Price $2,150,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC24065252
Sold Date 05/23/24
HOA Y/N No
Lot Size 3,484 Sqft
Property Sub-Type Res Income 2-4 Units
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 apartments 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 propertys idyllic location within walking distance of the abundance of retail, dining, and entertainment options at Belmont Shores 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 propertys close proximity to Pacific Coast Highway provides residents with easy access throughout Long Beach and neighboring coastal cities.
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 apartments 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 propertys idyllic location within walking distance of the abundance of retail, dining, and entertainment options at Belmont Shores 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 propertys close proximity to Pacific Coast Highway provides residents with easy access throughout Long Beach and neighboring coastal cities.
Location
State CA
County Los Angeles
Area Long Beach (90803)
Zoning Assessor
Building
Lot Description Curbs, Sidewalks
Story 2
Level or Stories 2 Story
Others
Monthly Total Fees $106
Acceptable Financing Cash, Exchange
Space Rent $11,731
Listing Terms Cash, Exchange
Financing Cash
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Bought with William Keye • Main Street Realtors