1048 E 5th St

***PRICE IMPROVEMENT***Prime Investment Opportunity with FULLY APPROVED PLANS RTI***Entitled 11-Unit Development with Existing Cash Flow in Long Beach.
This is a rare and highly attractive opportunity to acquire a stabilized 6-unit multifamily property situated on an oversized lot already entitled for an additional 5 units—bringing the total future unit count to 11 units. Upon completion, the project is projected to be valued at over $6,000,000, making this a compelling investment with significant upside potential. 5 of 6 units fully renovated with brand-new systems throughout the property, ensuring minimal immediate capital expenditures. Unit Mix (Existing 6 Units):
(4) 1 Bed / 1 Bath
(1) 2 Bed / 1 Bath
(1) 2 Bed / 2 Bath.
Entitled 5 Additional Units: FULLY APPROVED PLANS RTI -
(2) 3 Bed / 2 Bath units with grade-level parking
(3) 4 Bed / 3 Bath townhome-style units, also with grade-level parking.
Stabilized Gross Income: Projected to generate nearly $37,000 per month upon full build-out.
Strong Cap Rate: Stabilized at a 6.75% Cap Rate on cost. Attractive GRM: Achieves a 10.74 GRM on cost, underscoring strong investment fundamentals.
Projected end value exceeds $6,000,000, providing exceptional upside in one of Long Beach’s hottest rental markets.
Conservatively underwritten profits of $1.2M+ make this an ideal low-risk, high-reward investment. Benefit from consistent cash flow during the development process with income from the stabilized 6 existing units. Existing units offset holding costs, while entitled plans minimize entitlement risk.
Situated in Long Beach, a thriving rental market with strong tenant demand and long-term appreciation potential. This property offers the best of both worlds: stable cash flow today and exceptional upside tomorrow. With a clear path to development and substantial projected returns, this is an opportunity that investors and developers alike will not want to miss. ***OWNER FINANCING OPTIONS***LET'S GET CREATIVE***