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 DowntownLong 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!
|
DAYS ON MARKET
|
30
|
LAST UPDATED
|
1/7/2025
|
|
YEAR BUILT
|
1958
|
COMMUNITY
|
Downtown Area, Alamitos Beach
|
|
GARAGE SPACES
|
5.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Conditional
|
PROPERTY TYPE(S)
|
Residential Income
|
| AREA |
Downtown Area, Alamitos Beach |
| GARAGE |
Yes |
| LOT |
6753 sq ft |
| LOT DESCRIPTION |
0-1 Unit/Acre |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| WATER |
Public |
| ZONING |
LBR4R |
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Listed with NorthMarq Realty Services, Inc
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 1/9/25 11:59 AM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2025.
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