5267 East Ocean Boulevard new Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90803
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,703 sqft
Price per Sqft $1,294
Subdivision Belmont Shore
MLS Listing ID PW-24149314
Style Contemporary
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 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.
Location
State CA
County Los Angeles
Zoning LBR4R
Interior
Interior Features Crown Molding,Copper Plumbing Partial,Ceiling Fan(s),Block Walls,Bar,Furnished,Granite Counters,Open Floorplan,Pantry,Recessed Lighting,Storage,Wainscoting,Wet Bar
Heating Wall Furnace
Cooling None
Flooring Laminate,Tile,Vinyl,Wood
Fireplaces Type Electric,Gas,Living Room
Laundry Community,Dryer Included,Gas & Electric Dryer Hookup,Gas Dryer Hookup,In Closet,In Garage,Inside
Exterior
Exterior Feature Barbeque Private,Rain Gutters
Garage Gated
Garage Spaces 4.0
Pool None
Community Features Biking,Curbs,Dog Park,Fishing,Golf,Gutters,Hiking,Park,Sidewalks,Storm Drains,Street Lights,Watersports
Utilities Available Sewer Connected,Water Connected,Cable Connected,Natural Gas Connected,Phone Available
Waterfront true
View Y/N Yes
View Ocean,Pier,Water,White Water,Catalina,City Lights,Coastline
Building
Lot Description Front Yard,Landscaped,Lawn,Patio Home,Paved,Sprinkler System,Sprinklers Drip System,Sprinklers In Front,Sprinklers Timer,2-5 Units/Acre
Sewer Public Sewer