1701 East Ocean Boulevard
Description
Long 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!
- Listed by Parker Boehle • DRE #02054215 • Brokerage DRE #01858487 • NorthMarq Realty Services, Inc • 310-988-8361
- Listed by Brent Sprenkle • DRE #01290116 • Brokerage DRE #01858487 • NorthMarq Realty Services, Inc
Property Details for 1701 East Ocean Boulevard
Property Details for 1701 East Ocean Boulevard
| Status | Active |
|---|---|
| MLS # | OC24244770 |
| Days on Market | 8 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1958 |
| County | Los Angeles County |
Building Information for 1701 East Ocean Boulevard
Property Information for 1701 East Ocean Boulevard
- Gross Income: $298,820
- Gross Scheduled Income: $298,820
- Net Operating Income: $197,257
- Laundry Income: $2,120
- Gross Multiplier: 12.72
- Cap Rate: 5.19
- Operating Expense: $92,662
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $0
- Professional Management Expense: $0
- Trash Expense: $0
- Water Sewer Expense: $0
- Total Expenses: $92,662
- Tax Block: 52
- Tax Tract Number: 1851
- Tax Census Tract: 5766.02
- CFD/Mello-Roos Fee: $1,851
- Tax Lot: 20
- Community Features: Biking, Curbs, Dog Park, Golf, Gutters, Sidewalks, Street Lights
- Laundry: Yes
- Laundry Features: Common Area, Electric Dryer Hookup, Washer Hookup
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: 0-1 Unit/Acre
- Number Of Units: 9
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 5
- Parking Garage Spaces: 5
- Carport Spaces: 0
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,850
- Unit Type Total Rent: $2,850
- Unit Type Pro Forma: 3195
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $3,000
- Unit Type Total Rent: $3,000
- Unit Type Pro Forma: 3195
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $3,195
- Unit Type Total Rent: $3,195
- Unit Type Pro Forma: 3195
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $3,000
- Unit Type Total Rent: $3,000
- Unit Type Pro Forma: 3195
- Unit Type Type: 4
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,795
- Unit Type Total Rent: $2,795
- Unit Type Pro Forma: 2795
- Unit Type Type: 5
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $1,800
- Unit Type Total Rent: $1,800
- Unit Type Pro Forma: 2795
- Unit Type Type: 6
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,795
- Unit Type Total Rent: $2,795
- Unit Type Pro Forma: 2795
- Unit Type Type: 7
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $1,995
- Unit Type Total Rent: $1,995
- Unit Type Pro Forma: 2795
- Unit Type Type: 8
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Actual Rent: $3,295
- Unit Type Total Rent: $3,295
- Unit Type Pro Forma: 3295
- Unit Type Type: 9
- Rent Controlled: No
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 9
- Number Of Separate Gas Meters: 9
- Number Of Separate Water Meters: 1
Property History for 1701 East Ocean Boulevard
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1701 East Ocean Boulevard
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Burbank Elementary School PublicK to 5 | ||
Franklin Classical Middle School Public6 to 8 | ||
Polytechnic High School Public9 to 12 | ||
Renaissance High School For The Arts Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of NorthMarq Realty Services, Inc, Parker Boehle, DRE #02054215; NorthMarq Realty Services, Inc, Brent Sprenkle, DRE #01290116
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.