5400 E The Toledo 701, Long Beach, California 90803, Long Beach, 90803 - 3 bed, 5 bath

5400 E The Toledo 701, Long Beach, California 90803 home-pic-0
ACTIVE$7,999,000
5400 E The Toledo 701, Long Beach, California 90803
3Beds
5Baths
4,000Sqft
34,805Lot
Year Built
1962
Close
-
List price
$8M
Original List price
$10M
Price/Sqft
$2,000
HOA
$2,677
Days on market
-
Sold On
-
MLS number
RS25078331
Home ConditionFair
Features
Excellent View: Bridge(s), Canal, Catalina, Coastline, Hills, Marina, Mountain(s), Neighborhood, Ocean, Panoramic, Water
Deck
ViewBridge(s), Canal, Catalina, Coastline, Hills, Marina, Mountain(s), Neighborhood, Ocean, Panoramic, Water

About this home

We found 3 Cons,6 Pros. Rank: price - $8.00M(98th), sqft - 4000(98th), beds - 3(91th), baths - 5(98th).

Perched atop the crown jewel of exclusive Naples Island, this extraordinary penthouse at the Portofino offers a rare opportunity to own a landmark residence in one of Southern California’s most coveted waterfront communities. Spanning approximately 4,000 square feet, this 3-bedroom, 4.5-bathroom masterpiece delivers commanding, unobstructed views of Alamitos Bay, the Pacific Ocean, city skyline, and distant mountains. Positioned at the end of Belmont Shore’s iconic 2nd Street, the penthouse is just steps from premier dining, boutique shopping, and vibrant coastal culture—yet feels worlds away in its elevated privacy and serenity. Designed with the entertainer in mind, this open-concept home seamlessly blends indoor and outdoor living. Expansive wraparound terraces provide the perfect setting for intimate dinners or large-scale gatherings, offering panoramic vistas that leave a lasting impression. Floor-to-ceiling windows flood the living spaces with natural light, showcasing the ever-changing scenery from every room. Inside, the residence boasts a thoughtfully designed layout with grand living and dining areas, a gourmet kitchen tailored for both culinary precision and casual elegance, a stylish bar area, and dedicated laundry and fitness rooms. Two of the 3 spacious bedrooms offers its own ensuite bath, the third bedroom also enjoys a full bath down the hall, while an additional guest powder room adds convenience and sophistication. Notably, this penthouse was once home to Hollywood royalty and is being offered for sale only for the second time since its original construction in 1962—underscoring its legacy and exclusivity. A defining feature of the Portofino lifestyle is the private marina just steps from your door, offering seamless access to the water and an exclusive coastal living experience. Included in the sale is one boat slip accommodating vessels up to 30 feet—ideal for spontaneous bay cruises or sunset sails. Residents also enjoy a refreshing waterfront pool, perfect for relaxing after a day on the water or simply soaking in the serene bayfront ambiance. And for one unforgettable night each year, the penthouse becomes the ultimate vantage point for the city’s dazzling July 4th fireworks, reflected across the bay in a breathtaking display. With timeless elegance, unmatched views, and a location that combines vibrant city living with tranquil coastal charm, this is more than a residence—it’s a rare piece of Southern California history.

Nearby schools

10/10
Naples Elementary School
Public,K-50.2mi
7/10
Rogers Middle School
Public,6-80.7mi
6/10
Wilson High School
Public,9-121.6mi

Price History

Date
Event
Price
10/10/25
Price Change
$7,999,000
05/30/25
Listing
$10,000,000
12/20/00
Sold
$975,000
Condition Rating
Fair

Built in 1962, this penthouse offers stunning views and a prime location. While the property appears well-maintained, the interior, particularly the kitchen and bar area, reflects an older renovation style, likely from the 1980s or 1990s. The kitchen features dated light wood cabinetry with black trim, dark granite countertops, and a geometric backsplash that is no longer current. The living/bar area also showcases extensive, traditional wooden built-ins and outdated light fixtures. The property is functional and move-in ready, but its aesthetic is significantly outdated and would require substantial cosmetic updates to align with modern luxury standards, fitting the 'Fair' category where major components are functional but show signs of being outdated and require minor updates.
Pros & Cons

Pros

Great Schools: Elementary School: Naples Elementary School (10/10).
Unparalleled Panoramic Views: The penthouse offers commanding, unobstructed panoramic views of Alamitos Bay, the Pacific Ocean, city skyline, and distant mountains, including a prime vantage point for July 4th fireworks.
Exclusive Waterfront Location & Amenities: Situated on exclusive Naples Island, steps from premier dining and shopping, with a private marina, an included 30-foot boat slip, and a refreshing waterfront pool.
Spacious & Luxurious Penthouse Design: Spanning approximately 4,000 square feet with 3 bedrooms and 4.5 bathrooms, featuring grand living areas, a gourmet kitchen, stylish bar, dedicated laundry, and fitness rooms, designed for entertaining.
Historical Significance & Rarity: A landmark residence once home to Hollywood royalty, this property is being offered for sale only for the second time since its original construction in 1962, underscoring its unique exclusivity.
Seamless Indoor-Outdoor Living: Expansive wraparound terraces and floor-to-ceiling windows create a seamless blend of indoor and outdoor living, maximizing natural light and showcasing the breathtaking vistas from every room.

Cons

High Monthly Association Fees: The association fee of $2,677.00 per month is substantial and represents a significant ongoing cost for ownership.
Building Age: Constructed in 1962, the building is over 60 years old. While the penthouse is described as a masterpiece, the age of the overall structure could imply potential for older common area infrastructure or future assessments.
Limited Bedroom Count for Size: At approximately 4,000 square feet, having only 3 bedrooms might be considered a lower bedroom count by some buyers, potentially limiting its appeal to larger families seeking more private sleeping quarters.

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