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5711 East 2nd Street

Long Beach CA 90803

3
2
3671 sq. ft.
Multi-Family
Currently for sale - view listing

Overview

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. The on-site laundry facility is owned, adding an ancillary income stream that conveys with the property. For an investor, 5711 East 2nd Street offers a rare entry point into one of Long Beachs most prestigious and expensive coastal addresses, a market where limited rental product serves a deep, affluent renter base, and the opportunity to capture embedded rent growth in one of Southern Californias most resilient waterfront rental markets.

Features

3 bedrooms
2 bathrooms
3671 sq. ft. lot size
Multi-Family

Happy sellers in Long Beach

<50%
Less than 50% of sellers in Long Beach reported that their sale price either exceeded or met their price expectations.

Long Beach stands out as a desirable community for sellers, consistently delivering great customer service and strong market results for homeowners.

This is based on voluntary sentiment collected from 7 reviews in Long Beach over the last 12 months.

Local market activity for 3 bedroom multi families in Long Beach

In the last 12 months, 2 three-bedroom multi families similar to 5711 East 2nd Street, have been sold.

This represents a 100% decrease in three-bedroom multi families sales when compared to the previous 12 months.

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Sales:
(619) 566-0008
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