1701 E. Ocean Boulevard, Long Beach, CA 90802 (MLS # OC24244770)

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PRICE $3,799,999 dsIDX morgage calculator
BEDS n/a
BATHS 0
HOME SIZE 8,388 sqft
LOT SIZE 6,752 sqft

Assumable Loan Available at only 3.81%! Located in the heart of Alamitos Beach, just steps away from the iconic shoreline, 1701 E. Ocean Blvd. offers an ideal opportunity to acquire a Corner Lot, 9-unit Trophy property in one of Long Beach’s most coveted neighborhoods. This Legacy property is operating at a strong 5.19% Cap Rate and 12.72 GRM!The Ocean Blvd. apartments have been extremely well maintained and upgraded by ownership. In recent years, the building has had major renovations to both the plumbing and roof. Inside, units feature built-in cabinetry, new quartz countertops, vintage crown molding, hardwood flooring, and large dining rooms with arched walkways that highlight the building’s timeless charm. Tenants enjoy the luxury of being just minutes from some of Long Beach’s most desirable locations, including the Pike Outlets, Retro Row, Second Street, Bixby Park, and the prospering DowntownLong Beach!Totaling just under 8,400 Sq.Ft., the property includes an exceptional unit mix of (1) Two-Bedroom/Two-Bath (~1,200 Sq.Ft.), (4) Two-Bedroom/One-Bath units (~1,100 Sq.Ft.), and (4) One-Bedroom/One-Bath units (~700 Sq.Ft.). Each unit offers ample closet and storage space, and select units offer washer/dryer hookups and private patios! There is a community laundry room on-site, offering additional convenience. There are a total of (8) parking spaces, including (5) garages and (3) tandem spots for tenants. These spaces could also be viewed as a potential ADU, being on the back corner of the lot.With four units being delivered vacant and an assumable loan at only 3.81% through Aug. 2028, this is an incredibly rare opportunity to cash flow on one of Long Beach’s most sought-after streets! Whether you are looking for stable cash flow or a property with long-term appreciation potential, this property is a rare find in today’s market!

DAYS ON MARKET 14 LAST UPDATED 12/10/2024
YEAR BUILT 1958 COMMUNITY Downtown Area, Alamitos Beach
GARAGE SPACES 5.0 COUNTY Los Angeles
STATUS Active PROPERTY TYPE(S) Residential Income


ADDITIONAL DETAILS
AREA Downtown Area, Alamitos Beach
GARAGE Yes
LOT 6753 sq ft
LOT DESCRIPTION 0-1 Unit/Acre
POOL DESCRIPTION None
SEWER Public Sewer
STORIES 2
WATER Public
ZONING LBR4R
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listed with NorthMarq Realty Services, Inc

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