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Sold on 05/23/2024
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5285 E The Toledo, Long Beach, CA 90803

$2,150,000

Last sold 05/23/2024 after 51 Days

  • —

    bed

  • —

    bath

Multi-family not for sale

About 5285 E The Toledo

Property type Multi-family
Neighborhood
Year built 1947
HOA fee $0/month
Lot size 3,485 Sqft
Rental estimate
Property description
5285 East The Toledo is 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.
Listed by
Listing Agent - Tyler Leeson
Listing Office - Marcus & Millichap RE Invest
Source: CRMLS mls logo
MLS#OC24065252 • last updated 2 years ago
Movoto checked CRMLS for data 1 minute ago
Overview
Levels/Style Two
Type Residential Income
SubType Apartment
Status Closed
Lot Size (Acres) 0.08
Lot Size (SqFt) 3484.8
Year Built 1947
Interior
Laundry Community
Exterior
Building Area Square Feet, 3389
Lot Description Level With Street
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Los Angeles
Community Features Curbs, Gutters, Sidewalks
Subdivision Belmont Shore (BSD), Belmont Shore (BSD)
Zoning LBR4R
Directions Cross Streets Of East The Toledo & La Verne Avenue
APN 7249013038
Multifamily Details
Vacancy Allowance Rate 3
Vacancy Allowance 4223
Expense: Trash 1468
Operating Expense 46463
Cap Rate 4.16
Expense: Insurance 4200
Total Expenses 46463
Expense: Maintenance 4000
Expense: Water/ Sewer 1469
Gross Income 141967
Gross Operating Income 136544
Expense: Electric 1468
Gross Multiplier 15.46
Gross Scheduled Income 140767
Expense: Fuel 1468
Rental est.: $1,748/month
Gross rent multiplier: 102.5
  • May 2024
    mls logo MLS # OC24065252
  • May 23, 2024 Sold
    $2,150,000
  • May 20, 2024 Pending
    —
  • May 9, 2024 Active
    —
  • Apr 24, 2024 Price Change
    $2,195,000 (-2.4%)
  • Apr 2, 2024 Listed
    $2,250,000
  • May 2024
    Public Records
  • May 23, 2024 Sold
    $2,150,000 (-2.1%)
  • Year Property taxes Tax assessment
  • 2024
    $13,055 +1.8%
    $946,097
  • 2023
    $12,819 +6.4%
    $946,097 +4.04%
  • 2022
    $12,045 +2.2%
    $909,385 +2.0%
  • 2021
    $11,781 +0.3%
    $891,567
  • 2020
    $11,751
    $891,567
  • 5285 E The Toledo
    $2.15M
  • Belmont Park
    $1.58M +230% y/y
  • 90803
    $1.17M -1% y/y
  • Long Beach
    $699K 0% y/y
No chart available
Statistics calculated by Movoto

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Source: GreatSchools.org © 2026. All rights reserved.

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