Mohr Real Estate Group

Mohr Real Estate Group

1701 E. Ocean Boulevard Long Beach CA 90802 MLS #OC24244770

1701 E. Ocean Boulevard
Long Beach, CA, 90802
$3,799,999
Beds
0 Baths
SqFt
0.16 Acres
Add
Add
$3,799,999
1701 E. Ocean Boulevard
Long Beach, CA, 90802
MLS #OC24244770 img 0

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!

Property Details

Price:
$3,799,999
MLS #:
OC24244770
Status:
Active
Baths:
0
Address:
1701 E. Ocean Boulevard
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
4downtownareaalamitosbeach
City:
Long Beach
Listed Date:
Dec 5, 2024
State:
CA
ZIP:
90802
Lot Size:
6,753 sqft / 0.16 acres (approx)
Year Built:
1958

Schools

Interior

Exterior

Community Features
Biking, Curbs, Dog Park, Golf, Gutters, Sidewalks, Street Lights
Garage Spaces
5.00
Lot Features
0-1 Unit/ Acre
Parking Spots
8.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public

Financial

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1701 E. Ocean Boulevard
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