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5245 E Carson Street, Long Beach, California 90808, Long Beach, 90808 - bed, bath

5245 E Carson Street, Long Beach, California 90808 home-pic-0
ACTIVE$1,812,000$3,561/sqft
5245 E Carson Street, Long Beach, California 90808
0Bed
0Bath
3,561Sqft
7,921Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Income Generation & Upside: The property currently generates over $10,100 per month in rental income, with significant additional income potential from five unrented garages, estimated to add nearly $15,000 per year.
Top Cons:
Restricted Access for Showings: The property is fully occupied with 'no showings at this time,' which significantly limits a buyer's ability to thoroughly inspect all units and assess their current condition, potentially impacting due diligence and offer confidence.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1946 (80 years old).
Condition: While the property was built in 1946, three of the four units (75%) were extensively remodeled approximately 3 years ago. These remodeled units feature modern kitchens with white shaker cabinets, stainless steel appliances, subway tile backsplashes, and updated fixtures, as well as modern bathrooms with new vanities and subway tile showers. PEX plumbing was also installed in these units. The flooring consists of classic hardwood and modern tile, and the overall aesthetic in the remodeled units is clean and contemporary. The exterior and common areas appear well-maintained. However, one unit remains unremodeled, and the overall age of the building (78 years) suggests that some major systems (e.g., roof, foundation, main electrical) may not have been fully updated or are nearing the end of their lifespan, preventing an 'Excellent' rating. The property is largely move-in ready for the majority of its units, aligning with a 'Good' condition.
Year Built
1946
Close
-
List price
$1.81M
Original List price
$1.82M
Price/Sqft
$509
HOA
-
Days on market
-
Sold On
-
MLS number
PW25046653
Home ConditionGood
Features
Good View:
View-

About this home

Charming 4-Unit Investment Opportunity in Desirable Lakewood Village Located in one of Long Beach’s most sought-after neighborhoods, this rare 4-unit property presents a fantastic opportunity for both investors and owner-occupants. The building features three spacious 2-bedroom units and one 1-bedroom unit, each offering private front and rear entrances and a comfortable, functional layout. Three of the units were remodeled approximately 3 years ago with upgraded tile flooring, PEX plumbing, modern kitchen cabinetry, and fixtures. Property Highlights: • Strong Existing Cash Flow: The property currently generates over $10,100 per month in rental income—not including potential income from the five unrented garages. • Updated Interiors & Private Access: Well-maintained units with classic hardwood floors (in several), upgraded finishes in remodeled units, and excellent natural light throughout. • In-Unit Laundry Hookups + Central Facility: All three remodeled units include their own laundry hookups, in addition to a shared on-site laundry area for tenant convenience. • Unrented Garages – Additional Income Potential: With market rents in the area averaging ~$249/month per garage, the five garages could add nearly $15,000/year in additional revenue. • Low-Maintenance Operations: Each unit is separately metered for gas and electricity, with tenants covering their own utility costs. Landscaped grounds are maintained by an automatic sprinkler system. • Prime Location Across from Heartwell Park: Tenants enjoy direct access to walking and biking trails, a duck pond, outdoor fitness course, and community library. Close to Cal State Long Beach, Long Beach City College, and an abundance of nearby shopping, dining, and entertainment options. A Smart, Versatile Investment Ideal for buyers seeking a stable, income-generating asset with long-term upside, or for owner-occupants looking to live in one unit while offsetting expenses with rental income. Creative financing options may be available—contact listing broker for details. Showing Remarks: Fully occupied. No showings at this time.

G
George Bustamante
Listing Agent

Nearby schools

7/10
Twain Elementary School
Public,•K-5•0.6mi
6/10
Burcham Elementary School
Public,•K-5•0.8mi
8/10
Holmes Elementary School
Public,•K-5•1.7mi
7/10
Bancroft Middle School
Public,•6-8•0.5mi
8/10
Marshall Academy Of The Arts
Public,•6-8•1.2mi
6/10
Gompers K-8
Public,•K-8•1.4mi
5/10
Lakewood High School
Public,•9-12•0.5mi

Price History

Date
Event
Price
04/16/20
Sold
$1,250,000
Condition Rating
Good
While the property was built in 1946, three of the four units (75%) were extensively remodeled approximately 3 years ago. These remodeled units feature modern kitchens with white shaker cabinets, stainless steel appliances, subway tile backsplashes, and updated fixtures, as well as modern bathrooms with new vanities and subway tile showers. PEX plumbing was also installed in these units. The flooring consists of classic hardwood and modern tile, and the overall aesthetic in the remodeled units is clean and contemporary. The exterior and common areas appear well-maintained. However, one unit remains unremodeled, and the overall age of the building (78 years) suggests that some major systems (e.g., roof, foundation, main electrical) may not have been fully updated or are nearing the end of their lifespan, preventing an 'Excellent' rating. The property is largely move-in ready for the majority of its units, aligning with a 'Good' condition.
Pros & Cons

Pros

Exceptional Income Generation & Upside: The property currently generates over $10,100 per month in rental income, with significant additional income potential from five unrented garages, estimated to add nearly $15,000 per year.
Prime & Desirable Location: Situated in the highly sought-after Lakewood Village, directly across from Heartwell Park, offering excellent tenant amenities and proximity to universities, shopping, and dining.
Recent Unit Upgrades & Modern Amenities: Three of the four units have been recently remodeled (approximately 3 years ago) with modern kitchens, PEX plumbing, and in-unit laundry hookups, enhancing tenant appeal and reducing immediate capital expenditures.
Low-Maintenance Operations: Each unit is separately metered for gas and electricity, shifting utility costs to tenants, and an automatic sprinkler system simplifies landscaping, contributing to lower operating expenses.
Versatile Investment & Owner-Occupant Appeal: Ideal for both seasoned investors seeking stable income and owner-occupants looking to leverage rental income to offset living expenses in a desirable area.

Cons

Restricted Access for Showings: The property is fully occupied with 'no showings at this time,' which significantly limits a buyer's ability to thoroughly inspect all units and assess their current condition, potentially impacting due diligence and offer confidence.
Age of Property & Potential for Systemic Updates: Built in 1946, the property is nearly 80 years old. While some units are remodeled, the age suggests potential for future capital expenditures on major systems (e.g., roof, foundation, remaining original plumbing/electrical) not covered by recent unit-specific upgrades.
Inconsistent Unit Modernization: Only three of the four units were remodeled, implying at least one unit (likely the 1-bedroom) may not have received recent upgrades, potentially requiring future investment to standardize finishes and maximize rental income across all units.
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