1701 E. Ocean Boulevard

Long Beach, CA 90802

  • 0 Bed(s)
  • 0 Bath(s)
  • 8,388 Sqft
  • 6753
    Sqft(Lot)
$3,799,999

Description

Assumable loan available! 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!

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    47987362

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

  • Building Information

    • Year Built: 1958
    • Building Area Total: 8,388

    Pool Features

    • None

    Laundry Features

    • Common Area,Washer Hookup,Electric Dryer Hookup

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.155
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 6753

  • Listing Price Information

    • Original List Price: 3,799,999
    • Listing Contract Date: 2024-12-05

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 7265018040

  • Garage and Parking

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 4 - Downtown Area, Alamitos Beach
    • Postal Code Plus 4: 5901
    • Directions: Off Ocean Blvd. and Gaviota
    • Zoning: LBR4R
    • Source Property Type: Residential Income
    • Area: 4 - Downtown Area, Alamitos Beach
    • Property SubType: Apartment

    Building and Construction

    • Property Age: 66
    • Common Walls: No Common Walls
    • Structure Type: Apartment
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: 1
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 12/18/2024 @ 04:16

  • MLS: OC24244770
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is for sale, it has 8,388 sqft, 6,753 sized lot, and 5 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Long Beach , in zip code 90802, this Los Angeles County Home , it is in the Cedar Towers (CDT) Subdivision, are nearby neighborhoods.