1701 E. Ocean Boulevard, Long Beach, CA 90802
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Listed Price :
$3,799,999
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Beds :
N/A
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Baths :
N/A
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Property Size :
N/A sqft
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Year Built :
1958
Property Description
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!
Interior Features
Laundry Information |
Location(s) |
Common Area, Washer Hookup, Electric Dryer Hookup |
Bedroom Information |
Bedrooms |
N/A |
Bathroom Information |
Bathrooms |
N/A |
Listing Information
Address |
1701 E. Ocean Boulevard |
City |
Long Beach |
State |
CA |
Zip |
90802 |
County |
Los Angeles |
Listing Agent |
Parker Boehle DRE #02054215 |
Co-Listing Agent |
Brent Sprenkle DRE #01290116 |
Courtesy Of |
NorthMarq Realty Services, Inc |
List Price |
$3,799,999 |
Status |
Active |
Type |
Residential Income |
Subtype |
Apartment |
Structure Size |
N/A |
Lot Size |
6,753 |
Year Built |
1958 |
Listing information courtesy of: Parker Boehle, Brent Sprenkle, NorthMarq Realty Services, Inc. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 19th, 2024 at 5:49 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.