NOT LISTED FOR SALE
3 Beds
3 Baths
8,372 Sq Ft
5,227 Sq Ft Lot

Last Sold February 07, 2025

Last sale price $3,800,000 $454 Per Sq Ft

12 Days on Market

Highlights

  • 0.12 Acre Lot
  • No HOA
  • Level Lot
  • Lowell Elementary School Rated A-

About This Home

As of February 2025

Seashore Apartments is a rare 12-unit multifamily investment property located in the prime Belmont Shore neighborhood of Long Beach, CA. Seashore Apartments offers a diverse mix of studio, one, and two-bedroom floor plans as well as amenities including a secured entry way, a common area side yard, spacious floor plans with large closet spaces, and ocean views from select units. Seashore Apartments benefits from its unparalleled Belmont Shore location, steps away from the sand of Rosie’s Dog Beach and the Belmont Veterans Memorial Pier. Residents enjoy the property’s idyllic location within walking distance of the abundance of retail, dining, and entertainment options at Belmont Shore’s 2nd Street. Seashore Apartments is just over 1.50 miles from Retro Row, a lively corridor of Long Beach’s most unique and vibrant shops and restaurants. The property is also just over 1.50 miles from 2nd & PCH, a recently developed open-air mall, providing residents with convenient access to a plethora of everyday needs. Furthermore, residents enjoy Seashore Apartments’ close proximity to Pacific Coast Highway, providing easy access to neighboring coastal cities and employment hubs. The property’s ideal Belmont Shore location surrounded by an abundance of recreational, entertainment, and retail amenities is a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at Seashore Apartments.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest Brokerage Email: tleeson@marcusmillichap.com License #01451551 Listed on: 01/21/2025

Last Buyer's Agent

David Scheff

Rodeo Realty License #02023064

Rodeo Realty

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1930

Lot Details

  • 5,227 Sq Ft Lot
  • No Common Walls
  • Level Lot

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 8,372 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Outdoor Features

  • Rain Gutters

Listing and Financial Details

  • Legal Lot and Block 33 / 20
  • Tax Tract Number 3750
  • Assessor Parcel Number 7247020025
  • $2,145 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 12 Units
  • Belmont Shore Subdivision

Building Details

  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,941
  • Fuel Expense $2,941
  • Insurance Expense $16,000
  • Maintenance Expense $7,200
  • Other Expense $7,210
  • Professional Management Expense $14,582
  • Trash Expense $2,941
  • Water Sewer Expense $2,942
  • New Taxes Expense $49,546
  • Operating Expense $291,640
  • Gross Income $300,660
  • Net Operating Income $185,337

Property Details

Home Type

Apartment

Year Built

Built in 1930

Lot Details

0

Listing Details

  • CapRate: 4.64
  • Professional Management Expense: 14582.00
  • Property Attached: No
  • Subdivision Name Other: Belmont Shore (BSD)
  • Water Sewer Expenses: 2942.00
  • Zoning: LBR4R
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7247020025
  • Year Built: 1930
  • Special Features: None

Interior Features

  • Stories: 3
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 453.89

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Trash Expense: 2941.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 5227.20
  • Lot Size Acres: 0.1200

Multi Family

  • Electric Expense: 2941.00
  • Fuel Expense: 2941.00
  • Gross Income: 300660.00
  • Gross Multiplier: 13.29
  • Gross Operating Income: 291640.00
  • Gross Scheduled Income: 300660.00
  • Insurance Expense: 16000.00
  • Lot Size Area: 0.1200 Acres
  • Maintenance Expense: 7200.00
  • Net Operating Income: 185337.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 12
  • Operating Expense: 291640.00
  • Operating Expense Percent: 36.50
  • Other Expense: 7210.00
  • Other Expense Description: Misc
  • Rent Control: No
  • Total Expenses: 291640.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 49546.00
  • Tax Block: 20
  • Tax Census Tract: 5773.00
  • Tax Lot: 33
  • Tax Tract Number: 3750
  • TaxOtherAnnualAssessmentAmount: 2145.00
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/07/2025 02/07/25 Sold $3,800,000 -4.9% $454 / Sq Ft
02/02/2025 02/02/25 Pending -- -- --
01/21/2025 01/21/25 For Sale $3,995,000 -- $477 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $8,827 $2,171,069 $1,337,281 $833,788
2024 $8,827 $531,568 $171,169 $360,399
2023 $8,654 $521,146 $167,813 $353,333
2022 $8,170 $510,928 $164,523 $346,405
2021 $7,933 $500,911 $161,298 $339,613
2019 $7,818 $488,056 $156,515 $331,541
2018 $7,579 $478,527 $153,447 $325,080
2016 $6,952 $458,026 $147,490 $310,536
2015 $6,710 $451,147 $145,275 $305,872
2014 $6,729 $442,311 $142,430 $299,881
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC25014583

California Regional Multiple Listing Service (CRMLS)