1701 E. Ocean Boulevard, Long Beach

$3,799,999

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14

Beds

10

Baths

0.16

Acres

About 1701 E. Ocean Boulevard

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!

Features of 1701 E. Ocean Boulevard

MLS® # OC24244770
Price $3,799,999
Bedrooms 14
Bathrooms 10.00
Acres 0.16
Year Built 1958
Type Residential Income
Sub-Type Apartment
Status Active Under Contract

Community Information

Address 1701 E. Ocean Boulevard
Area 4 - Downtown Area, Alamitos Beach
City Long Beach
County Los Angeles
Zip Code 90802

Amenities

Parking Spaces 8
# of Garages 5
Is Waterfront No
Has Pool No
Pool None

Interior

Has Basement No
Fireplace No
# of Stories 2
Stories Two

Exterior

Lot Description ZeroToOneUnitAcre

Additional Information

Date Listed December 5th, 2024
Days on Market 68
Zoning LBR4R
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentParker Boehle
OfficeNorthMarq Realty Services, Inc

Listing Map

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