5267 E Ocean BLVD Long Beach, CA 90803
Active
$3,299,000
10%
4 Units
5 Beds
4 Baths
2,703 Area(sq.ft.)
2,702 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 4 | 5 | 4 | $ 252,823 | $ 252,823 | $ 296,377 | |
| 1 | 4 | 20 | 16 | $ 1,011,292 | $ 1,011,292 | $ 1,185,508 |
| MLS #: | PW24149314MR |
| Days On Market: | 152 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,220 |
| Price per unit: | $ 824,750 |
| Year Built: | 1953 |
Property Details
Welcome to this COMPLETELY RENOVATED Trophy property, an exceptional Oceanfront fourplex located in the highly coveted Belmont Shore neighborhood. Just steps from the sandy beach, this rare investment opportunity offers a remarkable Cap Rate of 5.82% with a NET Income of $203,600. and a Pro forma Cap of 8.35%. Situated in one of Long Beach s most desirable areas, this property is in close proximity to Naples Island, 2nd Street shopping and dining, Alamitos Bay, the Long Beach Bike/Walking Path, and the renowned Belmont Athletic Club. This two-level fourplex comprises three 1 BD/1 BA units and one 2 BD/1 BA unit with a private sundeck, all meticulously renovated with high-end designer fixtures, finishes, and furnishings. Over $500,000 was invested into the property's renovations, which include new cabinets, countertops, waterproof flooring, designer bathroom tiles, modern light fixtures, fresh paint, and luxurious furnishings. Additional building improvements feature new electrical and plumbing upgrades, exterior landscaping, new pavers, a front gate, turf, plants, and enhanced lighting including in-ground lighting. Investment opportunities of this quality and in this exclusive pocket are rare and highly sought after. With all units currently occupied, this is a unique chance to own a piece of Belmont Shore. For additional income, consider hosting oceanfront events on the patio, adding two loft-style ADUs in each garage, constructing a third-story penthouse apartment, and creating a rooftop sundeck. Enhance the indoor-outdoor living experience by adding a balcony to the upstairs oceanfront unit. Seize this rare opportunity to invest in a luxury oceanfront property that promises both immediate returns and significant long-term value. Contact us today to schedule a viewing and explore the endless possibilities this trophy property has to offer.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 252,823 |
| Total Annual Expense: | $ 49,222 |
| Net Operating Income: | $ 203,600 |
| Cap Rate: | 5.82% |
Structure
| Community Features: | Biking, Curbs, Dog Park, Fishing, Golf, Hiking, Gutters, Park, Watersports, Sidewalks, Storm Drains, Street Lights |
| Security Features: | 24 Hour, Carbon Monoxide Detector(s), Card/Code Access, Exterior Security Lights, Fire and Smoke Detection System, Fire Rated Drywall, Prewired for alarm system, Resident Manager, Security System, Smoke Detector |
| Style: | Contemporary |
| Sewer: | Public Sewer |
| View Description: | Catalina, City Lights, Coastline, Ocean, Pier, Water, White Water |
| Water: | Public |
Land & Parking
| Zoning: | LBR4R |
| Land Lease Type: | Fee |
Interior
| Cooking Appliances: | Microwave, Oven-Gas, Range, Self Cleaning Oven |
| AC/Cooling: | None |
| Equipment: | Community, Dryer, Dryer Included, Garage, Gas Dryer Hookup, Gas Or Electric Dryer Hookup, Ice Maker, In Closet, Inside, Microwave, Portable Dishwasher, Recirculated Exhaust Fan, Refrigerator, Trash Compactor, Water Line to Refrigerator, Water Purifier |
| Heating: | Wall |
| Fireplace Rooms: | Electric, Gas, Living Room |
| Laundry: | Community, Dryer, Dryer Included, Garage, Gas Dryer Hookup, Gas Or Electric Dryer Hookup, In Closet, Inside |
| Laundry Equipment: | Own |
| Laundry Income: | 0.00 |
Exterior
| Exterior Construction: | Stucco |
| Pool: | No |
Detailed Map
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