Located in the Long Beach Peninsula, one of Long Beach’s hidden treasures, you’ll find the Ocean Apartments. Built in 1953, this beautiful 4 Unit Multifamily property is in an awesome location and has been well kept by an amazing owner who has brought value to the property with common areas, parking, and great upkeep.
The Location : The Peninsula
Located just steps between Alamitos Bay and the Pacific Ocean, the Peninsula has some of the most amazing stretches of sand in Southern California and spectacular views of Catalina Island and Downtown. The Peninsula is an approximately mile-long spit of sand that extends from Alamitos Bay south to the San Gabriel River which features some of the most impressive beach-front property in the city of Long Beach, CA. With beaches on both sides of this long narrow peninsula, the sandy beach that faces north is called Peninsula Bayside Beach, with Peninsula Beach on the Ocean side.
The Peninsula is truly one of Long Beach’s hidden treasures. Seaside Walk Boardwalk, which was built in the 1920’s, is considered by residents to be a historical treasure. Homeowners here love that the Peninsula is not as well known as other local beach areas. Thus, the neighborhood is generally quiet and peaceful.
At the Peninsula, there are endless ways to enjoy the beach; from paddle boarding, to kayaking, while also taking advantage of the bike/jogging paths all the way to downtown Long Beach. Finally, at just minutes to Belmont Shore and 2nd St., there is an abundance of quality restaurants and shopping.
The Property: The Ocean Apartments
The Ocean apartments are an absolute gem! Consisting of four large 1 bedroom, 1 bathroom units; the top two of which have amazing vaulted wood beamed ceilings, and the bottom two each containing a fireplace
Each unit provides maximum value with a 1 car garage per unit, and a gated common area patio perfect for BBQs and entertainment.
Currently there are three 4-plex on the market at an average of $1,899,998, and just this property in escrow at $1,750,000 in the 90803 zip code.
In the last 12 months, there have been eight 4-plex sales in the 90803 zip code.
The average sales price of the fourplexes in this area in 2021 is $1,511,500.
We chose this 4-plex because it is beautiful, it is in a prime location, and because the owner has provided maximum value to the residents. By providing parking and common areas, residents will have more privacy and feel more welcomed. We appreciate properties that provide maximum value to its residents, and we want to commend the Owners who make it all possible by continually improving their property.
This property is not our listing and is currently in escrow. The listing agent for this property is Blair Newman.