Active

5267 E Ocean Boulevard

Long Beach CA, 90803

$3,499,900


$1,294.82 per sqft

Active

2,703 sqft

Multi-family

Built in 1953

Listed by Kathy Veysey with Keller Williams Realty 949-981-8156

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 own a piece of Belmont Shore. For additional income, consider hosting oceanfront events on the patio, adding two loft-style ADUs in each garage, constructing a third-story penthouse apartment, and creating a rooftop sundeck. Enhance the indoor-outdoor living experience by adding a balcony to the upstairs oceanfront unit.

Seize this rare opportunity to invest in a luxury oceanfront property that promises both immediate returns and significant long-term value. Contact us today to schedule a viewing and explore the endless possibilities this trophy property has to offer.

PW24149314

MLS ID

July 22, 2024

Listed

October 17, 2024

Updated

Map

5267 E Ocean Boulevard
Long Beach CA, 90803

Interior Features

Total Stories

2


Interior Features

Wet Bar, Block Walls, Ceiling Fan(s), Crown Molding, Furnished, Granite Counters, Open Floorplan, Pantry, Paneling/Wainscoting, Quartz Counters, Recessed Lighting, Storage, Bar, Bedroom on Main Level


Appliances

ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Exhaust Fan, Gas Cooktop, Disposal, Gas Oven, Gas Range, Gas Water Heater, High Efficiency Water Heater, Ice Maker, Microwave, Portable Dishwasher, Refrigerator, Range Hood, Self Cleaning Oven, Trash Compactor, Water To Refrigerator, Water Heater, Water Purifier, Dryer


Laundry Description

Common Area, Electric Dryer Hookup, Gas Dryer Hookup, Inside, Laundry Closet, In Garage


Floor Description

Laminate, Tile, Vinyl, Wood


Fireplace

Yes


Fireplace Description

Electric, Gas, Living Room


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.06 Acres


Exterior Features

Barbecue, Rain Gutters


Lot Features

2-5 Units/Acre, Drip Irrigation/Bubblers, Front Yard, Sprinklers In Front, Lawn, Landscaped, Paved, Sprinklers Timer, Sprinkler System


Architectual Style

Contemporary, Patio Home


Sewer

Public Sewer

Other Property Details

Area Name

1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr


Days on Market

64


Garage

Yes


Garage Spaces

4


Parking Total

4


View

Yes


View Description

Catalina, City Lights, Coastline, Ocean, Pier, Water


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Waterfront

Yes


Zoning

LBR4R

Listing History

Date

Event

Price

9/24/2024

Price change

$3,499,900

-2%

8/5/2024

Price change

$3,549,900

-3%

Listing Contact: 949-482-3999 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 10/17/2024 at 10:22 AM UTC

 

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