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Listed by Kathy Veysey • Keller Williams Realty
$ 3,299,000
Est. payment /mo
Active
5267 E Ocean Boulevard Long Beach, CA 90803
2,703 SqFt
UPDATED:
12/18/2024 03:38 AM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,703 sqft
Price per Sqft $1,220
MLS Listing ID CRPW24149314
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1953
Lot Size 2,702 Sqft
Property Description
Welcome to this COMPLETELY RENOVATED Trophy property, an exceptional Oceanfront fourplex located in the highly coveted Belmont Shore neighborhood. Just steps from the sandy beach, this rare investment opportunity offers a remarkable Cap Rate of 5.82% with a NET Income of $203,600. and a Pro forma Cap of 8.35%. Situated in one of Long Beach’s most desirable areas, this property is in close proximity to Naples Island, 2nd Street shopping and dining, Alamitos Bay, the Long Beach Bike/Walking Path, and the renowned Belmont Athletic Club. This two-level fourplex comprises three 1 BD/1 BA units and one 2 BD/1 BA unit with a private sundeck, all meticulously renovated with high-end designer fixtures, finishes, and furnishings. Over $500,000 was invested into the property's renovations, which include new cabinets, countertops, waterproof flooring, designer bathroom tiles, modern light fixtures, fresh paint, and luxurious furnishings. Additional building improvements feature new electrical and plumbing upgrades, exterior landscaping, new pavers, a front gate, turf, plants, and enhanced lighting including in-ground lighting. Investment opportunities of this quality and in this exclusive pocket are rare and highly sought after. With all units currently occupied, this is a unique chance to
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling No Air Conditioning
Flooring Laminate, Tile, Vinyl, Wood
Fireplace No
Appliance Water Purifier, Gas Water Heater, ENERGY STAR Qualified Appliances
Laundry Community Facility, Dryer, Gas Dryer Hookup, Laundry Closet, In Garage, Other, Inside
Exterior
View City Lights, Water, Other, Ocean
Building
Lot Description Other, Front Yard, Paved, Landscape Misc
Water Public
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