930 E Ocean Boulevard, Long Beach, CA 90802
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Listed Price :
$2,200,000
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Beds :
7
-
Baths :
6
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Property Size :
3,529 sqft
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Year Built :
1988
Property Description
Listed for $2,200,000, this six-unit multifamily property offers a prime investment opportunity in one of Long Beach's most desirable beachside locations. The building consists of (2) 2-bedroom/1-bath units, (3) 1-bedroom/1-bath units, and one unpermitted studio unit. One building was constructed in 1908 and the other was built in 1988. The property spans 3,529 rentable square feet on a 3,854-square-foot lot and provides tenants with a unique blend of coastal living and urban convenience. Currently generating $11,600 per month ($139,200 annually) in gross rental income, the property has a significant 30% upside, with projected market rents reaching $15,050 per month ($180,600 annually). At market rents, the property operates at a 6.00% cap rate and a 12.18 GRM, compared to its current 4.23% cap rate and 15.80 GRM. The net operating income (NOI) at market levels is estimated at $132,064 per year, offering substantial income growth potential. The property includes two garage spaces, two additional on-site parking spaces, and ample street parking nearby. Situated just steps from the beach and minutes from Downtown Long Beach, this location offers unparalleled access to local dining, entertainment, and outdoor recreation. This well-maintained asset presents a rare opportunity for investors seeking long-term growth and value appreciation in a highly sought-after neighborhood.
Interior Features
| Bedroom Information |
| Bedrooms |
7 |
| Bathroom Information |
| Bathrooms |
6 |
| Interior Information |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
930 E Ocean Boulevard |
| City |
Long Beach |
| State |
CA |
| Zip |
90802 |
| County |
Los Angeles |
| Listing Agent |
John McCann DRE #01963932 |
| Courtesy Of |
Lyon Stahl Investment Real Estate, Inc. |
| List Price |
$2,200,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
3,529 |
| Lot Size |
3,854 |
| Year Built |
1988 |
Listing information courtesy of: John McCann, Lyon Stahl Investment Real Estate, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 10th, 2025 at 11:52 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
