5339 E Ocean Blvd

Investment Highlights

Property Overview

5339 E Ocean Blvd presents a rare opportunity to acquire a turnkey coastal multifamily asset in the highly desirable Belmont Shore area of Long Beach. This property boasts unobstructed ocean views and an impressive 4.71% cap rate, making it a standout investment. The building features six fully renovated 1-bedroom, 1-bathroom units, each equipped with new plumbing, electrical, and high-end finishes, including in-unit washer and dryer. The thoughtful layouts maximize ocean views, enhancing the appeal of these residences. This property is an ideal investment for those seeking a generational asset with zero deferred maintenance and immediate leasing potential. Four of the units are front-facing with ocean and water views, offering a compelling lifestyle rental product. The remaining two renovated 1-bedroom units further contribute to the property's broad tenant appeal. Additionally, the asset includes four rare parking spaces and direct access to the sand, adding significant value in this sought-after beachside community. With the upcoming Olympics and World Cup events, the property also offers excellent potential for Airbnb and vacation rentals, providing an additional income stream. Offered at $3,200,000, or $533,333 per unit, this 3,048 square foot building on a 2,540 square foot lot is projected to generate approximately $17,780 per month and $215,760 in annual scheduled gross income upon lease-up, with an estimated 6.18% cap rate.