5267 Ocean Blvd Long Beach, CA 90803

Property Details for 5267 Ocean Blvd

Property type

Commercial real estate

APN

7247025026

Description

This exceptional, completely renovated fourplex in Belmont Shore offers a rare investment opportunity. Located steps from the beach, this two-level property boasts three 1-bedroom/1-bathroom units and one 2-bedroom/1-bathroom unit with a private sundeck. All units feature high-end designer fixtures, finishes, and furnishings, reflecting over $500,000 in recent renovations including new cabinets, countertops, waterproof flooring, designer bathroom tiles, modern light fixtures, fresh paint, and luxurious furnishings. Building improvements also include new electrical and plumbing upgrades, exterior landscaping with new pavers, a front gate, turf, plants, and enhanced lighting. The property sits on a 3,000 square foot lot and includes 2 parking spaces. Currently generating a net income of approximately $199,450.52, and boasting a 5.7% pro-forma cap rate, this property presents a strong return on investment. The permitted zoning is R4. Its prime location offers proximity to Naples Island, 2nd Street shopping and dining, Alamitos Bay, the Long Beach Bike/Walking Path, and the Belmont Athletic Club. The property's location and high-end renovations make it a highly sought-after investment. Additional income potential exists through various expansion options. This is a unique chance to own a piece of Belmont Shore's coveted oceanfront real estate. The APN is 7247025026. The asking price is $3,499,900.