129 5th St Long Beach, CA 90802-2335

Property Details for 129 5th St

Year built

1942

Construction

TILT-UP CONCRETE

Lot size

0.12 lot acres

Property size

5,050 SF

Zone code

LBPD30

Property type

Retail space

APN

7280-004-007

APU

7280004007

Description

This exceptional 10,000-square-foot commercial property, located at 129 W 5th Street in Long Beach, California, presents a unique investment opportunity. The two-story building, constructed in 1942, sits on a 5,295-square-foot lot and boasts a significant bonus: a 5,000-square-foot basement (not included in the 10,000 SF total). The building is zoned LBPD30 and is currently configured as an event center and co-working space, offering flexibility for various uses. The first floor features a lobby with a reception area, three large rooms, three restrooms, and a music room. The second floor includes a spacious open kitchen, a private sitting area, three restrooms, a meditation room, and open office space with three private, window-lined rooms. This turnkey property offers an owner/user the advantage of a prime downtown Long Beach location, with easy access to public transportation (Metro A Line station nearby), abundant retail amenities, and a high walk score of 99. The asking price is $3,195,000, translating to $319.50 per square foot (excluding the basement). The property is for sale by owner, with a triple net (NNN) lease in place expiring December 1, 2024. This versatile space is ideal for both retail and office uses.

Location Insight

City

Long Beach

County

Los Angeles

State

California

Longitude

-118.193

Latitude

33.7732

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments