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$ 2,795,000
Est. payment /mo
New
5711 E 2nd Long Beach, CA 90803
3 Beds
2 Baths
3,671 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Naples (Na)
MLS Listing ID PW26180111
Bedrooms 3
Lot Size 3,671 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are proud to present 5711 East 2nd Street, a boutique 8-unit multifamily property in the heart of Naples Island, one of Long Beachs most exclusive waterfront enclaves and among the most supply-constrained residential submarkets in Southern California. Offered at $2,795,000, or $349,375 per unit, the asset pairs in-place cash flow with meaningful rental upside in a community defined by scarcity: a fully built-out cluster of canal-ringed islands where new multifamily supply is effectively nonexistent and renter demand is anchored by an irreplaceable waterfront lifestyle. The property sits on the 2nd Street corridor at Ravenna Drive, steps from the Naples canals and Alamitos Bay, roughly a mile from the Belmont Shore business district, and about a mile from 2nd & PCH, a newer Whole Foodsanchored open-air shopping and dining development. The property comprises seven one-bedroom units and one two-bedroom unit. In-place rents sit approximately 21% below the operators estimate of market, giving an incoming owner a clear runway to income growth as units are brought to market on turnover. Recent capital investment further de-risks the offering: the roof was professionally inspected and repaired in 2024 with an estimated ten years of remaining useful life, and the buildings electrical system was inspected and upgraded across 2024 and 2025. The property is currently master-metered for both gas and electric, presenting a potential opportunity for a new owner to explore submetering or a utility bill-back (RUBS) program as an additional lever for income growth, subject to feasibility.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Driving East on E. Livingston Dr., Turn Right onto E. 2nd St., Drive Straight, Property Will be on Your Left After Passing N. Ra
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7243001022
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Christopher Walker, DRE#01905338 Triqor Group
NEARBY SCHOOL & BUSINESS