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Listed by Linda Neino • Engel & Volkers Burbank
$ 4,950,000
Est. payment | /mo
9,024 SqFt
$ 4,950,000
Est. payment | /mo
9,024 SqFt
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 9,024 sqft
Price per Sqft $548
MLS Listing ID GD-26134832
Year Built 1923
Lot Size 4,075 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
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 - Belmontshore/Pk, Naples, Marinapac, Bay Hbr
Interior
Heating Wall Furnace
Laundry Individual Room
Exterior
Pool None
Community Features Sidewalks
View Y/N Yes
View Ocean
Building
Lot Description Paved
Sewer Public Sewer