5585 E Pacific Coast Highway 354, Long Beach, California 90804, Long Beach, 90804 - 2 bed, 2 bath
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Long Beach, California 90804
This Value-Add Condominium is a Strong Value Opportunity, listed at $425,000—positioned well below the $459,473 Fair Market Value by 7%. This valuation gap provides $34,473 in Instant Equity for buyers. While maintaining a Condition Rating of 4, the unit offers clear upside for modernization in a high-demand rental corridor near CSULB. Featuring two assigned parking spaces, a pool, and access to the 10/10 rated Gant Elementary School, this property balances lifestyle perks with significant appreciation potential. It is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5585 E Pacific Coast Highway 354 Subject | $415,000* List Price | 2 | 2 | 913 | $455 | - |
A 5585 E Pacific Coast E 353 Sold | $335,000 | 1 | 1 | 597 | $561 | 0.0 mi |
B 5585 E Pacific Coast Highway 343 Sold | $350,000 | 1 | 1 | 597 | $586 | 0.0 mi |
C 5585 E Pacific Coast Highway 132 Sold | $335,000 | 1 | 1 | 597 | $561 | 0.0 mi |
D 5585 E Pacific Coast Highway 340 Sold | $325,000 | 1 | 1 | 597 | $544 | 0.0 mi |
E 5585 E Pacific Coast Highway 171 Active Under Contract | $349,000 List Price | 1 | 1 | 597 | $585 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1970 and the listing description explicitly mentions 'clear upside' and the opportunity to 'add value,' which are standard industry terms for a property that requires modernization. While the building's lobby has been updated with contemporary finishes like polished concrete floors and modern lighting, the lack of interior photos of the kitchen and bathrooms, combined with the building's age, suggests the unit itself is likely in a functional but dated state. The property appears well-maintained by professional management but lacks the recent full-unit renovations required for a higher score.
Elementary School: Gant Elementary School (10/10).
Situated minutes from CSULB and the coast, this property is located in a high-demand rental market with top-rated schools, ensuring consistent occupancy and long-term appreciation.
The inclusion of two assigned parking spaces is a significant competitive advantage and a highly sought-after premium for condominiums in the Long Beach area.
The monthly HOA fee of $595.01 is relatively high for the price point, which may compress net yields for investors or limit the purchasing power of budget-conscious buyers.
Constructed in 1970, the property may require capital expenditures for modernization or repairs to compete with newer developments and achieve its full market potential.
Set at the back of the building, away from busy PCH, this refreshed condo has 2 assigned parking spaces and strong long-term value in one of Long Beach’s most convenient locations. The layout is practical and flexible - both bedrooms have their own private bathrooms, generous storage throughout, and large windows that bring natural light into each room. Park Ocean offers community amenities including a pool, spa, fitness center, clubhouse, BBQ areas, and tennis courts. Located near CSULB, the Tibor Rubin VA Medical Center, Belmont Shore, shopping, dining, beaches, and major commuter routes, this property is a great fit for a first-time buyer, investor, or anyone looking for an easy Long Beach base with parking, amenities, and room to build equity over time. CONVENTIONAL LOANS APPROVED!!!
No exterior & parking available.
Grades K-5 • 1.0 mi
Grades K-5 • 1.0 mi
Grades 6-8 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 913 | 926 |
| Lot Size | 147,503 | 30,781 |
| Price | $415.0K | $514.8K |
| Price per sq ft | $455 | $568 |
| Built year | 1970 | 1979 |
| HOA | $595.01 | $475 |
| Days on market | 124 | 76 |
Jul 18, 2026
$415,000
$425,000
-2% Price Drop
Initial Listing
Mar 20, 2026
$425,000
Initial Listing
Feb 4, 2004
$237,000
Public Record
Mar 26, 2001
$127,000
Public Record