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- LoopNet Team
1745 Ocean Blvd
Long Beach, CA 90802
Ocean Park Apartments · Multifamily Property For Sale
·
17 Units
INVESTMENT HIGHLIGHTS
- Prime Coastal Location with Ocean Views
- Extra Large Units with Majority Two Bedroom Townhomes
- High Quality Remodeled Asset
- Across the Street to Junipero Beach (500 Ft)
- Nearly 6% Cap Rate on Market Rents
- Washer/Dryer Hook Ups
PROPERTY FACTS
| No. Units | 17 | Lot Size | 0.38 AC |
| Property Type | Multifamily | Building Size | 23,639 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1924 |
| Building Class | C | Parking Ratio | 0.3/1,000 SF |
| Zoning | LBR4R | ||
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 23,639 SF |
| No. Stories | 3 |
| Year Built | 1924 |
| Parking Ratio | 0.3/1,000 SF |
| Zoning | LBR4R |
AMENITIES
UNIT AMENITIES
- Fireplace
- Washer/Dryer
- Washer/Dryer Hookup
- Kitchen
- Walk-In Closets
ABOUT 1745 OCEAN BLVD , LONG BEACH, CA 90802
Triqor Group is pleased to present the rare opportunity to acquire Ocean Park Apartments, a coastal 17-unit apartment building located in Long Beach, CA across the street from Junipero Beach. Built in 1924; the property offers a mix of very large (1) one bedroom unit, (2) two bedroom units, (12) two bedroom townhouse units and (2) three bedroom units. The property features copper plumbing and has been seismic retrofitted. All the units have at least one fireplace and 95% of the units include laundry machines. The three-bedroom units are three stories sitting at approximately 2,500 sf. and feature four fireplaces and ocean views. Ocean Park Apartments offers a unique opportunity to purchase an irreplaceable asset in a prime location with 32% upside in rents and nearly a 6% cap rate on market rents.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,595 | 800 |
| 2+1 | 2 | $2,020 | 1,050 |
| 2+1 | 12 | $2,125 | 1,150 |
| 3+2 | 2 | $2,715 | 2,500 |
PROPERTY TAXES
| Parcel Number | 7265-018-036 | Improvements Assessment | $3,077,503 |
| Land Assessment | $5,650,932 | Total Assessment | $8,728,435 |
PROPERTY TAXES
