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5325 E Ocean Blvd, Long Beach, CA 90803
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5325 E Ocean Blvd Long Beach, CA 90803

$3,560,000 Sold Price as of 05/11/2022
  • 8 Beds
  • 8 Baths
  • 5,692 Sq.Ft.
Sold
$3,560,000 Sold Price as of 05/11/2022 Refinance Your Mortgage
Map preview of 5325 E Ocean Blvd, Long Beach, CA 90803

Property Overview: 5325 E Ocean Blvd Long Beach, CA has 8 bedrooms, 8 bathrooms, 5,692 living square feet and 3,542 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Mid-century style apartment building in "PRIME" Belmont Shore location with unobstructed ocean views! There are eight one-bedroom units with laundry room, storage and tuck-under carport parking for four cars. This "trophy" property has not been on the market in over thirty-five years! All units are individually metered for gas & electricity. Plenty of opportunity to increase rental values as tenants relocate and units continue to be upgraded. Rental income shown is current and expenses shown are from last year's operating statement. Beach is directly across the street with close by access to Belmont Shore shops on 2nd St., paddle boarding, basketball courts, kayaking and more! This is an ideal upleg for investors! One-of-a-kind opportunity!

Listed by John Gooding | BRE #00479227 | Vista Sotheby's Int'l Realty
Last checked: 16 minutes ago | Last updated: May 12th, 2022 | Source CRMLS | DOM: 3

Home details

Lot Sq. Ft
3,542
HOA Dues
$0/mo
Year built
1955
Garage
--
Property Type:
Apartment
Status
Sold
MLS#
PW22072335
City
Long Beach
County
Los Angeles
Time on Site
889 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Leased Units: 8
  • # of Electric Meters: 9
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,850
  • Total Rent: $1,850
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,030
  • Total Rent: $2,030
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,995
  • Total Rent: $1,995
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,860
  • Total Rent: $1,860
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,740
  • Total Rent: $1,740
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,900
  • Total Rent: $2,900
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,925
  • Total Rent: $1,925
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,325
  • Total Rent: $2,325
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 16.89
  • Gross Scheduled Income: $201,300
  • Net Operating Income: $140,148
  • Gross Operating Income: $197,274
  • Garage Rental Rate: $0
  • Garage Rental Income: $0
  • Laundry Income: $1,200
  • Other Income Description: 4 carports included in rents
Annual Expense Breakdown
  • Total Operating Expense: $57,126
  • Electric: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 5325 E Ocean Blvd

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Carpet, Laminate, Vinyl
Kitchen Information
  • Has Appliances
  • Electric Range, Disposal
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Carport
Lot Information
  • Lot Features: Corner Lot, Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Has View
  • View: Ocean, Peek-A-Boo
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 7245007023
  • Year Built Source: Assessor
  • Architectural Style: Mid Century Modern
  • Property is Attached
  • Offered With Property: All Seller-owned property used in the production of income
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer, Sewer Paid
  • Water Source: Public
  • Utilities: Cable Available, Electricity Connected, Natural Gas Available, Sewer Connected
Assessment Information
  • Has Assessments
  • Assessments: Unknown
Location / Neighborhood
Location Information
  • Subdivision Name: Belmont Shore (BSD)
  • Directions: Ocean Blvd to Pomona Ave.
  • Road Frontage Type: City Street
  • Road Surface Type: Alley Paved, Paved
Neighborhood Information
  • Community Features: Biking, Dog Park, Golf, Hiking, Park, Watersports, Sidewalks, Storm Drains, Street Lights, Suburban
View more facts & features

Local Long Beach Agent

Sale History for 5325 E Ocean Blvd

Last sold for $3,560,000 on May 11th, 2022

  • April, 2022

  • Apr 20, 2022

    Date

    Pending

    CRMLS: PW22072335

    $3,400,000

    Price

  • Apr 17, 2022

    Date

    Active

    CRMLS: PW22072335

    $3,400,000

    Price

Tax History for 5325 E Ocean Blvd

Assessed Value (2020): $1,224,823
Year Land Value Improved Value Assessed Value
2020 $733,649 $491,174 $1,224,823

Home Value Compared to the Market

This property vs the competition

5325 E Ocean Blvd sold on May 11, 2022 for 315.14% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $597.33 per/sqft which puts the price per square foot 4.88% lower than the current median sale per square foot for the city of Long Beach.

About 5325 E Ocean Blvd

Detailed summary of property

5325 E Ocean Blvd is a apartment that recently sold in Long Beach, CA 90803. This apartment offered 8 bedrooms, 8 bathrooms, roughly 5,692 living square feet, and sits on an approximately 3,542 square foot lot. 5325 E Ocean Blvd was first listed on ArdentRealEstateGroup.com on April 13, 2022. The homeowner sold the property for $3,560,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 315.14% higher than the current median priced home. Local homes that are currently for sale include 526 17th St, 2501 Florida St and 7361 Artesia Blvd. While the average home in Long Beach, CA is selling in 62 days, 5325 E Ocean Blvd has a days on market of 3 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 5325 E Ocean Blvd Long Beach, CA 90803 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 5325 E Ocean Blvd

Public county record property details
Beds
8
Baths
8
Year built
1955
Sq. Ft.
6,043
Lot Size
3,552
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
25,26
APN
7245-007-023

The source for these homes facts are from public records.

90803 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,595,000
Median List Price/Sq.Ft.
$824
Median Sold Price
$1,000,000
Median Sold Price/Sq.Ft.
$755
Total Inventory
128
Median Sale to List Price %
100.2%
Avg Days on Market
29
Loan Type
Conventional (29.63%), FHA (0%), VA (3.7%), Cash (37.04%), Other (29.63%)

Thinking of Selling?

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Thinking of Selling?
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(714) 706-1823

Homes for Sale Near 5325 E Ocean Blvd

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Recently Sold Homes Near 5325 E Ocean Blvd

26 Pomona Ave, Long Beach, CA 90803
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30 Pomona Ave, Long Beach, CA 90803
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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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