1325-1331 E Ocean Blvd - Apartments FOR SALE


Long Beach, CA 90802- Downtown Long Beach | 
$3,125,000 USD
310-463-2916
1325-1331 E Ocean Blvd, Long Beach, CA for Sale
$3,125,000 USD
Apartments - FOR SALE
1/20
null | 5.5% Cap Rate

1325-1331 E Ocean Blvd
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • Rare Ocean Boulevard Location, Steps from the Beach
  • All Units Have Been Upgraded - Select Units with In-Unit Washer/Dryers and/or Private Patios
  • Diverse Unit Mix and Generous Floor Plans - Original Units Average ±1000 SF
  • New Permitted Stand-Alone ADU Studio House with Enclosed Private Yard
  • Capital Improvements Include: New Roof in 2019, Seismic Retrofitting (Front Building), Double-Pane Windows (Rear Building)

OVERVIEW

INVESTMENT SUMMARY 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.

FOR SALE DETAILS

PRICE

$3,125,000 USD

PRICE/SF

$356 USD /SF

# OF UNITS

9

PRICE/UNIT

$347,222

CAP RATE

5.5%

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

GG Ocean Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1914

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

RR4R, Long Beach

APN/PARCEL ID

7265-014-038

ASK ABOUT THIS PROPERTY

Robert SteppStepp Commercial - KWPEMore Info
310-463-2916

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Robert SteppStepp Commercial - KWPEMore Info
310-463-2916

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.