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301 Ocean Ave 6 Unit Apartment Building $5,950,000 ($991,667/Unit) 3.17% Cap Rate Seal Beach, CA 90740
INVESTMENT HIGHLIGHTS
- True "Owner's Unit" Penthouse Spanning Across the Entire 3rd Floor
- Over $1.2M in Extensive Renovations
- Ocean Views & Private Patio/Balcony in Select Units, In-Unit Laundry in All Units
- 100 Ft From the Sand, Located on the Corner of Ocean Ave. & 3rd St.
- Unit Mix Includes 4B, 3B, 2B & 1B Floorplans
- Building Elevator & (7) Private Garages
EXECUTIVE SUMMARY
Rare Seal Beach trophy asset just 110 feet from the sand, highlighted by a true four-bedroom penthouse owner’s unit spanning the entire third floor with over 3,000 SF of living space. Situated on a 5,500 SF double lot at the corner of Ocean Ave & 3rd St, this 6-unit property offers an excellent unit mix of four-, three-, two-, and one-bedroom floor plans and has benefited from nearly $1.3M in recent capital improvements, including an updated roof, re-piped plumbing, in-unit laundry, updated electrical, and refreshed interiors.
Select units feature ocean views and private patios/balconies. Community amenities include a building elevator and seven private garages.
Select units feature ocean views and private patios/balconies. Community amenities include a building elevator and seven private garages.
PROPERTY FACTS
| Price | $5,950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $991,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 3.17% | Building Size | 9,432 SF |
| Gross Rent Multiplier | 19.18 | Average Occupancy | 83% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 0.74/1,000 SF |
| Price | $5,950,000 |
| Price Per Unit | $991,667 |
| Sale Type | Investment |
| Cap Rate | 3.17% |
| Gross Rent Multiplier | 19.18 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 9,432 SF |
| Average Occupancy | 83% |
| No. Stories | 3 |
| Year Built | 1967 |
| Parking Ratio | 0.74/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $2,650 | 700 |
| 2+2 | 2 | $3,750 | 1,150 |
| 3+2 | 2 | $4,600 | 1,466 |
| 4+5 | 1 | $6,500 | 3,500 |
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Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 199-147-06 | Improvements Assessment | $628,387 |
| Land Assessment | $3,553,613 | Total Assessment | $4,182,000 |
PROPERTY TAXES
Parcel Number
199-147-06
Land Assessment
$3,553,613
Improvements Assessment
$628,387
Total Assessment
$4,182,000
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