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$ 5,950,000
Est. payment | /mo
4,072 Sqft Lot
$ 5,950,000
Est. payment | /mo
4,072 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Belmont Shore (Bsd)
MLS Listing ID GD26134832
HOA Y/N No
Year Built 1923
Lot Size 4,072 Sqft
Property Sub-Type Apartment
Property Description
An exceptional investment opportunity in one of Long Beach's most coveted coastal neighborhoods — just two blocks from the beach. This well-maintained 13-unit apartment building offers the perfect blend of lifestyle appeal and strong income performance, with all units leased at or close to market rents. The property features one penthouse unit with two bedrooms, one bath and a deck. Additional there are twelve spacious one-bedroom, one-bath residences. Approximately 80% of units have been thoughtfully remodeled and upgraded, reflecting pride of ownership throughout. Every unit has two walk in closets and dining areas while top-floor units feature cozy fireplaces. Select front-facing units offer private balconies and sweeping ocean views, while several side units capture partial ocean vistas. Many units feature charming bay kitchen windows, flooding living spaces with natural light and coastal breezes. On-site is a dedicated laundry facility with two washers and two dryers. Offered at approx $457,000 per unit, this property carries a current cap rate of 4.33% with a pro forma cap rate of 5.17% — reflecting meaningful upside rents continue to rise in this high-demand coastal corridor.
With its unbeatable Belmont Shore location, strong rental demand, and move-in ready condition, this is a rare opportunity to acquire a turnkey coastal asset with lasting appreciation potential.
With its unbeatable Belmont Shore location, strong rental demand, and move-in ready condition, this is a rare opportunity to acquire a turnkey coastal asset with lasting appreciation potential.
Location
State CA
County Los Angeles
Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr
Interior
Heating Wall Furnace
Fireplace No
Laundry Laundry Room
Exterior
Pool None
Community Features Sidewalks
View Y/N Yes
View Ocean
Private Pool No
Building
Lot Description Paved
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7256003024
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Linda Neino Engel & Volkers Burbank 818-468-8908, DRE #01321196
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