Description
We are proud to present 5711 East 2nd Street, a boutique 8-unit multifamily property in the heart of Naples Island, one of Long Beach’s 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 Foods-anchored 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 operator’s 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 building’s 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 Beach’s 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 California’s most resilient waterfront rental markets.
Details
| MLS # | PW26180111 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1952 |
| Days On Site | 14 |
| Listing Provided By | Triqor Group | Christopher Walker |
Features
| SQ Feet | 3,598 |
|---|---|
| Garage | 1 |
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 1 |
| Acreage | 0.08 |
Exterior
| Lot Features | Irregular Lot |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90803 |
| Area | 1 Belmont Shore | Park | Naples | Marina Pac | Bay Hrbr |
| Community Name | Naples (NA) |
| Listing VS Median (in Naples (NA)) | |
Price: $2,795,000 low | high Med: $2,795,000 sqft: 3,598 low | high Med: 3,598 $ / sqft: $777 low | high Med: $777 On site: 14 low | high Med: 14 | |
Market Activity 90803
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90803 |
| Area | 1 Belmont Shore | Park | Naples | Marina Pac | Bay Hrbr |
| Community Name | Naples (NA) |
| Listing VS Median (in Naples (NA)) | |
Price: $2,795,000 low | high Med: $2,795,000 sqft: 3,598 low | high Med: 3,598 $ / sqft: $777 low | high Med: $777 On site: 14 low | high Med: 14 | |