Casa Valencia — Sale in Long Beach, CA
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Long Beach, CA 90814
Photos
Investment Figures
- Cap rate
- 4.05%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is pleased to present the opportunity to acquire 3121 East 5th Street, a 5-unit multifamily investment property located in Long Beach, California. Constructed in 1930 and known as Casa Valencia, the property features a unit mix of five 2-bed/1-bath residences totaling 5,822 square feet. Four of the units offer approximately 1,242 square feet of living space, while the fifth totals approximately 854 square feet. Four single-car garages and four surface space provide an attractive parking ratio. Casa Valencia retains a collection of original Spanish Revival details that distinguish the property from more conventional apartment inventory. Architectural features include plaster barrel-vaulted ceilings, curved archways and period Spanish Revival fixtures, complemented by oak flooring and dedicated dining rooms in 4 of the 5 residences. Ownership has renovated 2 of the 5 units with new kitchens, stainless-steel appliances and in-unit washer/ dryers while also completing electrical and exterior improvements throughout the property. Most notably, Unit 3127, the renovated 1,242-square-foot residence, currently rents for $3,495 per month, compared with approximately $1,770 to $2,528 for the three remaining residences of the same size. This in-place performance provides a clear benchmark for the property’s value-add potential as the remaining units are improved over time. Located in Long Beach’s 90814 ZIP, Casa Valencia places residents near Fourth Street’s Retro Row, Bluff Park and the coastline, with convenient access to Belmont Shore, Downtown Long Beach and the surrounding area’s dining, shopping and recreational destinations. Together, Casa Valencia’s preserved architectural character, oversized 2-bedroom floor plans and demonstrated renovation premium provide a distinctive foundation for continued value creation. Investment Highlights: • Prime Location: Highly desirable 90814 ZIP, steps from Retro Row and the coast. • Oversized Layouts: 100% 2-bed/1-b
Market Context
This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 4.0% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Long Beach, CA — view the full market.
Contact
- Tyler Leeson · (714) 713-9086 · tyler.leeson@marcusmillichap.com
- Matt Kipp · (949) 419-3254 · matt.kipp@marcusmillichap.com
- Nick Kazemi · (949) 419-3333 · nick.kazemi@marcusmillichap.com
- Evan Gray · (949) 419-3227 · evan.gray@marcusmillichap.com
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