930 East Ocean Boulevard

Long Beach, CA 90802

$2,200,000
Price
7
Beds
6
Baths
3,529 Sq. Ft.
$623 / Sq. Ft.
3,529
Sq. Ft.
$623
per Sq. Ft.

Description

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...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.
  1. Listed by John McCann • DRE #01963932 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 930 East Ocean Boulevard

Water Front
Ocean
Zoning
LBPD5
Parcel Number
7265005001
Total Units
6.0
Living Area
3529
Source Living Area
Vendor Enhanced
Area
Downtown Area, Alamitos Beach (4)
Vacancy Rate
No

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., John McCann, DRE #01963932
Add your commute
LISTING UPDATED: 04/18/2024 09:41 AM

Property Details for 930 East Ocean Boulevard

StatusActive
MLS #24-351813
Days on Market102
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1988
Lot Size0.09 AC / 3,854 SF
CountyLos Angeles County

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., John McCann, DRE #01963932
Add your commute

Building Information for 930 East Ocean Boulevard

Stories2Residences-Year Built1988Building Size-Lot Size0.09 AC / 3,854 SF

Payment Calculator

$14,245 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,006

Property Taxes

$2,239

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 930 East Ocean Boulevard

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartments
  • Direction Faces: West
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $130,821
  • Net Operating Income: $89,124.00
  • Gross Income: $134,100
  • Cap Rate: 4.16%
  • Gross Rent Multiplier: $16.32
  • Laundry Income: $744
  • Total Annual Expense: 41697
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.0885
  • Lot Size Square Feet: 3854
Parking Details
Parking Details
  • Parking Garage: Garage - 2 Car, Garage Is Attached, Driveway - Concrete
  • Total Parking: 4
  • Parking Features: Garage - Two Door, Concrete
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating Type: Wall Gas
  • Equipment: Alarm System
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 01-25-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,325.00
  • Unit Actual Rent: $2,325.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,750.00
  • Unit Actual Rent: $1,750.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,825.00
  • Unit Actual Rent: $1,825.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,690.00
  • Unit Actual Rent: $1,690.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,950.00
  • Unit Actual Rent: $1,950.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,635.00
  • Unit Actual Rent: $1,635.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $669,309.00
  • Assessed Improvement Percent: 33.33
  • Assessed Land Value: $1,338,620.00
  • Assessed Land Percent: 66.67
  • Assessed Total Value: $2,007,929.00

Property History for 930 East Ocean Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 930 East Ocean Boulevard

Taxable ValueLand$1,338,620Additions$669,309Total$2,007,929
Tax Record2023$26,868 ($2,239 / month)
Home Facts
Total Finished SqFt3,529 SqFtAbove Grade Finished SqFt3,529 SqFtLot Size3,854 SqFtStyleMulti-Family Res (5+ Units)Year Built1988ZoningLBPD5CountyLOS ANGELESAPN7265-005-001

Schools near 930 East Ocean Boulevard

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Stevenson Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Renaissance High School For The Arts
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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930 East Ocean Boulevard is a multi-family home for sale in Long Beach, CA 90802. This property was listed for sale on January 25, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $2,200,000. It has been on the market for a total of 102 days and was last sold on September 9, 2013. This listing's school district is Long Beach Unified School District. Nearby schools include Stevenson Elementary School, Franklin Classical Middle School and Polytechnic High School. 930 East Ocean Boulevard is a 7-bed, 6-bath, 3,529 sqft multi-family home built in 1988.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., John McCann, DRE #01963932

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.