5475 Orange Avenue Long Beach, CA 90805
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Monthly Payment (Est.)$7,984
We are pleased to present 5475 Orange Ave, a rare Quadruplex in the Bixby Knolls/North Long Beach Submarket. This 4,468 SF Quadruplex features an Outstanding Unit Mix of (4) Large 3 Bed/1 Bath Units with each unit averaging over 1,100 SF, which is incredibly rare for this submarket. In addition, the building offers (4) adjacent Garage Parking Spaces, (1) allocated for each tenant. The garage runs the width of the lot and faces out back to the alley, so there are no ingress/egress related challenges. In addition, (2) of the Units have been completely remodeled. Both Units B and D have brand new porcelain tile floors, kitchen cabinets, quartz countertops, bathroom vanities, washer and dryer hookups, and updated electrical and plumbing throughout. Additionally, the garage was recently re-roofed and Unit C had brand new windows installed. On top of this, there have not been any (4) Units buildings sold within a 0.5mi radius in the last year, only adding to the unique nature of the building. Furthermore, the offering currently has strong in place rents, with the potential for significant future growth. Moreover, investors have the opportunity to convert the Garages into either (1) or (2) ADUs in order to increase their income. Alternatively, the Garage/Parking surplus outlined above could be parsed out (in various ways) and utilized as additional cash flow streams. Lastly, the Building’s Strategic Location within the submarket should not be overlooked. Its proximity to Economic and Entertainment hubs such as Downtown Long Beach and 2nd & PCH as well as its relative proximity to both the Downtown LA and Orange County Employment Hotspots ensure substantial appreciation. These reasons should continue to drive both population growth and increased median household income, which ultimately provides much optimism for continued rent growth within the Submarket moving forward
|5 months ago||Listing updated with changes from the MLS|
|5 months ago||Listing first seen online|