1701 E. Ocean BLVD Long Beach, CA 90802
Active
$3,799,999
9 Units
14 Beds
10 Baths
8,388 Area(sq.ft.)
6,753 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | $ 2,850 | $ 2,850 | $ 3,195 | |
| Unit 2 | 1 | 2 | 1 | $ 3,000 | $ 3,000 | $ 3,195 | |
| Unit 3 | 1 | 2 | 1 | $ 3,195 | $ 3,195 | $ 3,195 | |
| Unit 4 | 1 | 2 | 1 | $ 3,000 | $ 3,000 | $ 3,195 | |
| Unit 5 | 1 | 1 | 1 | $ 2,795 | $ 2,795 | $ 2,795 | |
| Unit 6 | 1 | 1 | 1 | $ 1,800 | $ 1,800 | $ 2,795 | |
| Unit 7 | 1 | 1 | 1 | $ 2,795 | $ 2,795 | $ 2,795 | |
| Unit 8 | 1 | 1 | 1 | $ 1,995 | $ 1,995 | $ 2,795 | |
| Unit 9 | 1 | 2 | 2 | $ 3,295 | $ 3,295 | $ 3,295 | |
| 9 | 9 | 14 | 10 | $ 24,725 | $ 24,725 | $ 27,255 |
| MLS #: | OC24244770MR |
| Days On Market: | 6 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 453 |
| Price per unit: | $ 422,222 |
| Year Built: | 1958 |
Property Details
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 Downtown Long 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!Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 92,662 |
| Net Operating Income: | $ 197,257 |
| Cap Rate: | 5.19% |
| Gross Rent Multiplier: | 12.72 |
Structure
| Community Features: | Biking, Curbs, Dog Park, Golf, Gutters, Sidewalks, Street Lights |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR4R |
| Land Lease Type: | Fee |
Interior
| Laundry: | Electric Dryer Hookup, Hookup - Electric, Laundry Area, Washer Hookup |
| Laundry Income: | 2120.00 |
Exterior
| Pool: | No |
Detailed Map
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