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737 E 5th St 14 Unit Apartment Building $4,100,000 ($292,857/Unit) 7.10% Cap Rate Long Beach, CA 90802
Executive Summary
Lee & Associates is pleased to present a very well maintained 14-unit apartment in a
fantastic East Village location. The building was built in 1964 and features 4 one-bedroom
units, 4 two-bedroom units, and 6 two-bedroom two bath units. Current ownership has
taken extremely good care of these buildings and over the years has replumbed the
building, upgraded the electrical, installed new windows, installed a new roof and in
general created a turnkey asset for a new investor. The current rents are slightly below
market allowing a new owner to raise rents without turnover.
fantastic East Village location. The building was built in 1964 and features 4 one-bedroom
units, 4 two-bedroom units, and 6 two-bedroom two bath units. Current ownership has
taken extremely good care of these buildings and over the years has replumbed the
building, upgraded the electrical, installed new windows, installed a new roof and in
general created a turnkey asset for a new investor. The current rents are slightly below
market allowing a new owner to raise rents without turnover.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,100,000 | Building Class | C |
| Price Per Unit | $292,857 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 12,412 SF |
| Cap Rate | 7.10% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.13/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R4 | ||
| Price | $4,100,000 |
| Price Per Unit | $292,857 |
| Sale Type | Investment |
| Cap Rate | 7.10% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 12,412 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 1.13/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4 |
Amenities
Site Amenities
- Laundry Facilities
- Security System
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 750 |
| 2+2 | 6 | - | 650 |
| 2+1 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (72)
Bike Score®
Biker's Paradise (91)
Property Taxes
| Parcel Number | 7281-003-019 | Improvements Assessment | $753,415 (2025) |
| Land Assessment | $301,360 (2025) | Total Assessment | $1,054,775 (2025) |
Property Taxes
Parcel Number
7281-003-019
Land Assessment
$301,360 (2025)
Improvements Assessment
$753,415 (2025)
Total Assessment
$1,054,775 (2025)
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737 E 5th St
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