930 E Ocean Boulevard, Long Beach, CA 90802 - Berkshire Hathaway HomeServices California Properties
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930 E Ocean Boulevard, Long Beach, CA 90802

$2,200,000 Approx. USD 7 beds, 6 baths
3,529 sqft
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Listing Agent


John McCann | jack@lyonstahl.com
Lic#: 01963932
Broker: Courtesy of Lyon Stahl Investment Real Estate, Inc.

Agent Remarks

Listed for $2,200,000, this six-unit multifamily property offers a prime investment opportunity in one of Long Beach's most desirable beachside locations. The building consists of (2) 2-bedroom/1-bath units, (3) 1-bedroom/1-bath units, and one unpermitted studio unit. One building was constructed in 1908 and the other was built in 1988. The property spans 3,529 rentable square feet on a 3,854-square-foot lot and provides tenants with a unique blend of coastal living and urban convenience. Currently generating $11,600 per month ($139,200 annually) in gross rental income, the property has a significant 30% upside, with projected market rents reaching $15,050 per month ($180,600 annually). At market rents, the property operates at a 6.00% cap rate and a 12.18 GRM, compared to its current 4.23% cap rate and 15.80 GRM. The net operating income (NOI) at market levels is estimated at $132,064 per year, offering substantial income growth potential. The property includes two garage spaces, two additional on-site parking spaces, and ample street parking nearby. Situated just steps from the beach and minutes from Downtown Long Beach, this location offers unparalleled access to local dining, entertainment, and outdoor recreation. This well-maintained asset presents a rare opportunity for investors seeking long-term growth and value appreciation in a highly sought-after neighborhood.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 25496551
Price: $2,200,000
Beds: 7
Baths: 6
Built in 1988
3,529 sqft
0.09 acres
Lot size: 0.0885
County: Los Angeles
Zoning: LBPD5
Parking description: Concrete,Door-Multi,Garage,On Street
Heating/cooling: Wall/Window Unit(s)
Heating description: Wall Furnace
MLS area: 4 - Downtown Area, Alamitos Beach

Last Updated: 2/18/2025

 Days On Market (DOM): 87

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This listing belongs to the 4 - Downtown Area, Alamitos Beach MLS area

Lat/Long: 33.765936, -118.181248.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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