1701 E. Ocean Boulevard
Long Beach, CA 90802
- – beds
- – baths
- – sqft
- 6,753 sqft lot
- 1958 build
- – on site
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!
Last checked:
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Last updated Dec 16, 2024
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MLS# OC24244770 —
The Building
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Year Built:1958
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:8388.00
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Building Area Units:Square Feet
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Total Number Of Units:9
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# of Buildings:1
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:9
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# of Separate Water Meters:1
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# of Separate Electric Meters:9
Interior
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Levels:Two
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Entry Location:1
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Laundry:Common Area, Electric Dryer Hookup, Washer Hookup
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Laundry:1
Location
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Directions:Off Ocean Blvd. and Gaviota
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Latitude:33.76527500
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Longitude:-118.17173300
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:LBR4R
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Lot Features:0-1 Unit/Acre
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Lot Size Area:6753.0000
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Lot Size Acres:0.1550
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Lot Size SqFt:6753.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:52
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Tax Census Tract:5766.02
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Tax Tract:1851
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Tax Lot:20
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7265018040
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Showings Begin:2024-12-10
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Biking, Curbs, Dog Park, Golf, Gutters, Sidewalks, Street Lights
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking Spaces:8.00
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Garage Spaces:5.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
12/10/24
Dec 10, 2024
|
Listed / Active | CRMLS_CA | $3,799,999 |
