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$ 3,125,000
Est. payment | /mo
8,267 Sqft Lot
$ 3,125,000
Est. payment | /mo
8,267 Sqft Lot
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW26214101
HOA Y/N No
Year Built 1914
Lot Size 8,267 Sqft
Property Sub-Type Mixed Use
Property Description
1325 E. Ocean Boulevard presents a rare opportunity to acquire a well-maintained multifamily asset along one of Long Beach's most desirable, beach-adjacent corridors. Offered at $3,125,000, the 9-unit property encompasses approximately 8,986 square feet and combines the architectural appeal and spacious floor plans of a vintage Long Beach property with meaningful capital improvements and additional income potential. The property features a diverse collection of (1) 3BD/1BA unit, (6) 2BD/1BA units, (1) 1BD/1BA unit, and a newly constructed detached studio ADU with enclosed private yard. The residences offer generously sized vintage floor plans with thoughtful interior upgrades throughout. Select units feature in-unit washers and dryers and/or private patios, providing amenities that enhance their competitive positioning within the coastal Long Beach rental market. Ownership has also invested in significant building improvements. The front building has been seismically retrofitted, the rear building features double-pane windows, and a new roof was installed in 2019. These improvements, together with the upgraded interiors and newly added ADU, provide an incoming investor with an improved physical asset while preserving the property's original character. At current operations, the property generates $262,500 in scheduled annual rental income and $171,749 in NOI. The pro forma projects scheduled rental income of approximately $301,440 and NOI of approximately $207,633, increasing the projected return to a 6.64% cap rate. This represents ±21% potential NOI growth through the realization of market rents. With its premier Ocean Boulevard location, spacious, upgraded units, substantial building improvements and identifiable income upside, 1325 E. Ocean Boulevard offers investors a compelling combination of coastal Long Beach real estate, vintage character, current cash flow and future revenue growth.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7265014038
Energy Description 1288.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379
Nearby School & Business
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