Active
5267 E Ocean Boulevard
Long Beach CA, 90803
$2,847,000
Active
5 Beds
Multi-family
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 7.15% with a NET Income of $203,600. and a Pro forma Cap rate of 8.35%. Situated in one of Long Beachs 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
PW24149314
MLSⓇ ID
July 22, 2024
Listed
February 20, 2025
Updated
Interior Features
Total Stories
2
Bedrooms
5
Appliances
Gas Water Heater, Range/Oven, Refrigerator, Washer
Fireplace
No
Cooling
No
Cooling Description
None
Heating
No
Exterior/Building Features
Lot Size
0.06 Acres
Lot Features
Curbs, Sidewalks
Patio And Porch
Patio
Other Property Details
Days on Market
214
Garage
No
View
No
County
Los Angeles
Pool
No
Pool Features
None
Zoning
Estimated
Listing History
Date | Event | Price |
---|---|---|
2/15/2025 | Price change | $2,847,000 -6% |
1/28/2025 | Price change | $2,997,000 -8% |
Listed by Keller Williams Realty, Kathy Veysey,
Listing Contact: 949-981-8156
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Data last updated 11:00 PM UTC, 2/20/2025