$2,795,000
Long Beach, CA 90803
1952
Year Built
Los Angeles
County
Apartment
Property Type
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.
$14,876/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
Last updated: October 21, 2026 at 10:45 PMThe multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. All listing data, including but not limited to square footage and lot size, is believed to be accurate but is not guaranteed by the listing Agent, listing Broker, or CRMLS. Buyers are responsible for verifying the accuracy of all information and should independently investigate the data or retain appropriate professionals prior to making any decisions. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information herein may or may not have been the Listing and/or Selling Agent. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
