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930 E Ocean Blvd, Long Beach, CA 90802
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930 E Ocean Blvd Long Beach, CA 90802

$2,200,000
  • 7 Beds
  • 6 Baths
  • 3,529 Sq.Ft.
For Sale
$2,200,000 Get Pre-Qualified
Map preview of 930 E Ocean Blvd, Long Beach, CA 90802

Property Overview: 930 E Ocean Blvd Long Beach, CA has 7 bedrooms, 6 bathrooms, 3,529 living square feet and 3,854 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Introducing 930 E Ocean Boulevard, an investment opportunity in the heart of Long Beach, California (90802). This meticulously maintained property comprises six units, featuring a well-balanced mix of two 2-bedroom/1-bathroom unit, three 1-bedroom/1-bathroom units, and one unpermitted studio unit. The owner recently executed a comprehensive remodel. The upgrades include fresh paint, a new roof, and termite repairs, ensuring a no hassle investment for prospective buyers. Notably, three of the units have undergone full remodels, adding a touch of modern sophistication. This prime investment opportunity not only offers a stable income stream with a gross income of $134,100 and a solid net income of $89,124 annually but also addresses Long Beach's parking challenges. With an on-site garage and additional parking spaces, this property provides a valuable solution to the city's parking constraints. Strategically situated on East Ocean Boulevard, this property is not only an income generator but holds potential for long term appreciation. The well-designed unit mix, recent renovations, and dedicated on-site parking make it an attractive investment. Investors will appreciate the strategic location, quality renovations, and the thoughtful inclusion of on-site parking that 930 E Ocean Boulevard presents. Don't miss the chance to acquire a premium property in the thriving Long Beach market, poised for both immediate returns and long-term value.

Listed by John McCann | BRE #01963932 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 16 minutes ago | Last updated: April 18th, 2024 | Source CRMLS | DOM: 94
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Home details

Lot Sq. Ft
3,854
HOA Dues
$0/mo
Year built
1988
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24351813
City
Long Beach
County
Los Angeles
Time on Site
96 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,325
  • Total Rent: $2,325
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,750
  • Total Rent: $1,750
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,690
  • Total Rent: $1,690
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,825
  • Total Rent: $1,825
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,635
  • Total Rent: $1,635
  • Pro Forma/Market Rent: $1,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.16%
  • Gross Rent Multiplier: 16.32
  • Gross Scheduled Income: --
  • Net Operating Income: $89,124
  • Gross Operating Income: $130,821
  • Laundry Income: $744
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 930 E Ocean Blvd

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Property Details for 930 E Ocean Blvd

Interior Features
Cooling Information
  • No Cooling
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Garage - Two Door, Concrete
Property Information
  • Total # of Units: 6
  • Parcel Number: 7265005001
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Coming from west of Alamitos Ave, head east on Ocean Blvd and the property is on the first street to your right. Coming from the East, head west down Ocean Blvd, the property is to your left in between Bonito Ave and N Alboni Pl.
View more facts & features

Local Long Beach Agent

Sale History for 930 E Ocean Blvd

Last sold on October 20th, 2017

  • January, 2024

  • Jan 25, 2024

    Date

    Active

    CRMLS: 24351813

    $2,400,000

    Price

  • October, 2017

  • Oct 20, 2017

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • February, 2017

  • Feb 21, 2017

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 930 E Ocean Blvd

Assessed Value (2020): $1,910,173
Year Land Value Improved Value Assessed Value
2020 $1,273,449 $636,724 $1,910,173

Home Value Compared to the Market

This property vs the competition

930 E Ocean Blvd is listed 175.03% higher than the median list price for the city of Long Beach which has a median list price of $799,900. The median price per/sqft for Long Beach is $637 and this home is listed at $623.41 per/sqft which puts the price per square foot 2.13% lower than the median price per square foot for the city of Long Beach.

About 930 E Ocean Blvd

Detailed summary of property

930 E Ocean Blvd is a multi family located in Long Beach, CA 90802 and is currently for sale. This multi family property offers 7 bedrooms, 6 bathrooms, roughly 3,529 living square feet, and sits on an approximately 3,854 square foot lot. 930 E Ocean Blvd was first listed on ArdentRealEstateGroup.com on January 26, 2024. The homeowner is currently asking $2,200,000 and was originally asking $2,400,000. The median priced home in Long Beach is $799,900 with a median price per square foot of $637. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 175.03% higher than the median priced home. Local competing homes currently for sale include 1148 Stanley Ave, 1512 N Stanton Pl and 522 E Rhea St. While the average home in Long Beach, CA is selling in 54 days, 930 E Ocean Blvd has a days on market of 94 days. There are currently 593 homes for sale in the Long Beach real estate market and 338 of them are single family homes while 242 of them are condos and 13 are townhomes. For more information on this home for sale at 930 E Ocean Blvd Long Beach, CA 90802 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 930 E Ocean Blvd

Public county record property details
Beds
5
Baths
4
Year built
1988
Sq. Ft.
3,529
Lot Size
3,853
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
7265-005-001

The source for these homes facts are from public records.

90802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$530,000
Median List Price/Sq.Ft.
$627
Median Sold Price
$505,000
Median Sold Price/Sq.Ft.
$634
Total Inventory
124
Median Sale to List Price %
96.19%
Avg Days on Market
34
Loan Type
Conventional (50%), FHA (3.57%), VA (3.57%), Cash (28.57%), Other (10.71%)

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Recently Sold Homes Near 930 E Ocean Blvd

17 Bonito Ave, Long Beach, CA 90802
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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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