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Multifamily

5285 E The Toledo

5285 E The Toledo, Long Beach, CA 90803

Listing Price: $2,250,000

Cap Rate
4.00%
Number of Units
8
GRM
15.98
Price/Unit
$281,250
Price/Gross SF
$663.91
Gross SF
3,389

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 5285 East The Toledo, 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.

The property’s ideal Belmont Park location surrounded by an abundance of recreational, entertainment, and retail amenities are a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at 5285 East The Toledo.

Investment Highlights

  • Offers Exclusively Studio Floor Plans
  • Units Feature Hardwood, Tile, & Carpet Flooring, Tile Backsplash, as well as Security Doors
  • Newer Roof (2018), Newer Water Heater (2021), Upgraded Sub-Panels, Plumbing is Combination of Galvanized & PVC
  • Two-Surface Parking Spaces | On-Site Laundry Facility (WASH)
  • Steps Away from the Plethora of Retail, Dining, & Entertainment Options at Belmont Shore's 2nd Street
  • Within Walking Distance to Rosie's Dog Beach, Long Beach City Beach, & Belmont Veterans Memorial Pier
  • Within 1.15 Miles of 2nd & PCH, a Recently Developed Open-Air Mall Anchored by Whole Foods Market
  • 1.60 Miles from California State University, Long Beach, a Public University with an Annual Enrollment of Over 39,500 Students

Exclusively Listed By

Financing By

Multifamily

5285 E The Toledo

Listing Price: $2,250,000

Cap Rate
4.00%
Number of Units
8
GRM
15.98
Price/Unit
$281,250
Price/Gross SF
$663.91
Gross SF
3,389

Investment Highlights

  • Offers Exclusively Studio Floor Plans
  • Units Feature Hardwood, Tile, & Carpet Flooring, Tile Backsplash, as well as Security Doors
  • Newer Roof (2018), Newer Water Heater (2021), Upgraded Sub-Panels, Plumbing is Combination of Galvanized & PVC
  • Two-Surface Parking Spaces | On-Site Laundry Facility (WASH)
  • Steps Away from the Plethora of Retail, Dining, & Entertainment Options at Belmont Shore's 2nd Street
  • Within Walking Distance to Rosie's Dog Beach, Long Beach City Beach, & Belmont Veterans Memorial Pier
  • Within 1.15 Miles of 2nd & PCH, a Recently Developed Open-Air Mall Anchored by Whole Foods Market
  • 1.60 Miles from California State University, Long Beach, a Public University with an Annual Enrollment of Over 39,500 Students

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 5285 East The Toledo, 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. The property’s ideal Belmont Park location surrounded by an abundance of recreational, entertainment, and retail amenities are a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at 5285 East The Toledo.

Exclusively Listed By

Financing By

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