930 E Ocean Boulevard
Long Beach, CA 90802
- – beds
- – baths
- – sqft
- 3,854 sqft lot
- 1988 build
- – on site
Listed for $2,200,000, this six-unit multifamily property offers a prime investment opportunity in one of Long Beach's most desirable beachside locations. The building consists of (2) 2-bedroom/1-bath units, (3) 1-bedroom/1-bath units, and one unpermitted studio unit. One building was constructed in 1908 and the other was built in 1988. The property spans 3,529 rentable square feet on a 3,854-square-foot lot and provides tenants with a unique blend of coastal living and urban convenience. Currently generating $11,600 per month ($139,200 annually) in gross rental income, the property has a significant 30% upside, with projected market rents reaching $15,050 per month ($180,600 annually). At market rents, the property operates at a 6.00% cap rate and a 12.18 GRM, compared to its current 4.23% cap rate and 15.80 GRM. The net operating income (NOI) at market levels is estimated at $132,064 per year, offering substantial income growth potential. The property includes two garage spaces, two additional on-site parking spaces, and ample street parking nearby. Situated just steps from the beach and minutes from Downtown Long Beach, this location offers unparalleled access to local dining, entertainment, and outdoor recreation. This well-maintained asset presents a rare opportunity for investors seeking long-term growth and value appreciation in a highly sought-after neighborhood.
Last checked:
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Last updated Feb 18, 2025
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MLS# 25496551 —
The Building
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Year Built:1988
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New Construction:No
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Building Area Total:3529.00
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Total Number Of Units:6
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# of Buildings:2
Interior
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Levels:Multi/Split
Location
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Directions:Coming from west of Alamitos Ave, head east on Ocean Blvd and the property is on the first street to your right. Coming from the East, head west down Ocean Blvd, the property is to your left in between Bonito Ave and N Alboni Pl. Ave.
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Latitude:33.76593600
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Longitude:-118.18124800
The Property
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Property Type:Residential Income
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Zoning:LBPD5
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Lot Size Area:3854.0000
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Lot Size Acres:0.0885
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Lot Size SqFt:3854.00
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7265005001
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Appliances
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Included:Yes
The Community
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Garage - Two Door, Street, Concrete
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Parking Spaces:4.00
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Garage Spaces:2.00
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Uncovered Spaces:2.00
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 |
|---|---|---|---|---|
|
2/10/25
Feb 10, 2025
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Listed / Active | CRMLS_CA | $2,200,000 | |
|
12/1/13
Dec 1, 2013
|
Sold | CRMLS_CA |
