Long Beach, CA 90802,1701 E. Ocean Boulevard
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Long Beach, CA 90802,1701 E. Ocean Boulevard
Long Beach, CA 90802,1701 E. Ocean Boulevard
Long Beach, CA 90802,1701 E. Ocean Boulevard
Long Beach, CA 90802,1701 E. Ocean Boulevard
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Listed by Parker Boehle • NorthMarq Realty Services, Inc
$ 3,799,999
Est. payment /mo
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1701 E. Ocean Boulevard Long Beach, CA 90802

8,388 SqFt


UPDATED:

12/16/2024 06:45 PM

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,388 sqft

Price per Sqft $453

MLS Listing ID OC-24244770

Year Built 1958

Lot Size 6,753 Sqft

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!

Location

State CA

County Los Angeles

Zoning LBR4R

Interior

Laundry Common Area, Electric Dryer Hookup, Washer Hookup

Exterior

Parking Features Gated

Garage Spaces 5.0

Pool None

Community Features Biking, Curbs, Dog Park, Golf, Gutters, Sidewalks, Street Lights

Building

Lot Description 0-1 Unit/Acre

Sewer Public Sewer


Cris Epstein

Advisor | License ID: 01385089

+1(818) 269-4377

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1701 E. Ocean Boulevard