About this home

3121 East 5th Street is a 5-unit multifamily investment property located in Long Beach, California. Constructed in 1930 and known as Casa Valencia, the property features a unit mix of five 2-bed/1-bath residences totaling 5,822 square feet. Four of the units offer approximately 1,242 square feet of living space, while the fifth totals approximately 854 square feet. Four single-car garages and four surface space provide an attractive parking ratio. Casa Valencia retains a collection of original Spanish Revival details that distinguish the property from more conventional apartment inventory. Architectural features include plaster barrel-vaulted ceilings, curved archways and period Spanish Revival fixtures, complemented by oak flooring and dedicated dining rooms in 4 of the 5 residences. Ownership has renovated 2 of the 5 units with new kitchens, stainless-steel appliances and in-unit washer/ dryers while also completing electrical and exterior improvements throughout the property. Most notably, Unit 3127, the renovated 1,242-square-foot residence, currently rents for $3,495 per month, compared with approximately $1,770 to $2,528 for the three remaining residences of the same size. This in-place performance provides a clear benchmark for the property's value-add potential as the remaining units are improved over time. Located in Long Beach's 90814 ZIP, Casa Valencia places residents near Fourth Street's Retro Row, Bluff Park and the coastline, with convenient access to Belmont Shore, Downtown Long Beach and the surrounding area's dining, shopping and recreational destinations. Together, Casa Valencia's preserved architectural character, oversized 2-bedroom floor plans and demonstrated renovation premium provide a distinctive foundation for continued value creation.

Facts and features

Schools

• Mann Elementary School

  elementary · K-5 · 0.4 mi

  7

• Jefferson Leadership Academies School

  middle · 6-8 · 0.4 mi

  7

• Wilson High School

  high · 9-12 · 0.9 mi

  6

• Maple Village Waldorf School

  elementary · PK-8 · 0.6 mi

• Willard Elementary School

  elementary · K-5 · 0.5 mi

  3

• Burbank Elementary School

  elementary · K-5 · 0.6 mi

  7

Price history

• Nov 6, 2026 · Price Changed$2,395,000
• Oct 1, 2026 · Listed$2,595,000
• Jul 16, 2026 · Sold$1,500,000
• Jun 12, 2026 · Price Changed$1,650,000
• May 30, 2026 · Listed$1,990,000
• Apr 21, 1965 · Sold$40,000

Tax history

• 2025$3,281 tax · $1,375,000 assessed
• 2024$3,093 tax · $153,665 assessed
• 2023$3,035 tax · $147,700 assessed
• 2022$2,886 tax · $144,805 assessed
• 2021$2,784 tax · $141,966 assessed
• 2020$2,774 tax · $140,511 assessed
• 2019$2,745 tax · $137,757 assessed
• 2018$2,564 tax · $135,057 assessed

Home value

$1,502,206

• Quantarium$1,502,206

Where it is