NOT LISTED FOR SALE
2 Beds
2 Baths
3,470 Sq Ft
2,707 Sq Ft Lot

Last Sold May 05, 2021

Last sale price $2,500,000 $720 Per Sq Ft

57 Days on Market

Highlights

  • Ocean View
  • Fishing
  • Two cooling system units
  • Naples Bayside Academy Rated A
  • Wood Flooring
  • Laundry Room

About This Home

As of May 2021

Pride of Ownership, Trophy Property!
Located within the highly sought-after community of Belmont Shore, merely footsteps from the sand.
5239 Ocean is a picturesque 1950’s building with expansive ocean views. Assets of this caliber, situated on Ocean Blvd, rarely hit the market!
The Building is comprised of Six 1 bedroom x 1 bathroom nicely sized units. Each unit has been Impeccably maintained, three of the six beautifully upgraded to “like new” condition! Along with the finer finishes, mini-split units have also been added. The building is separately metered for gas and electric and has a community laundry.
Not only mere steps from the sand but just a short stroll to “2nd street”, which houses most of Long Beaches best fashion stores, restaurants, bars, coffee shops and everything that’s wonderful about Long Beach and Southern California!

Last Agent to Sell the Property

Cameron Jacques

Kinnery's Brokerage House License #01852032 Listed on: 03/03/2021

Co-Listed By

Corinna York-Rice

Kinnery's Brokerage House License #01305624

Last Buyer's Agent

Cameron Jacques

Kinnery's Brokerage House License #01852032 Listed on: 03/03/2021

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950 | Remodeled

Lot Details

  • 2,707 Sq Ft Lot
  • Lot Dimensions are 30 x 90
  • Two or More Common Walls
  • Rectangular Lot

Property Views

  • Ocean
  • Panoramic

Home Design

  • Apartment
  • Flat Roof Shape
  • Slab Foundation

Interior Spaces

  • 3,470 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Kitchen

  • Gas Oven
  • Gas Cooktop

Flooring

  • Wood
  • Laminate
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Utilities

  • Two cooling system units
  • Combination Of Heating Systems
  • Natural Gas Connected
  • Gas Water Heater
  • Cable TV Available

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Legal Lot and Block 30 / 28
  • Tax Tract Number 3750
  • Assessor Parcel Number 7247024026

Community Details

Overview

  • 6 Units
  • Belmont Shore Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Fishing
  • Park
  • Water Sports
  • Bike Trail

Building Details

  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $45,652
  • Gross Income $143,916
  • Net Operating Income $95,386

Property Details

Home Type

Multi-Family

Year Built

Built in 1950 | Remodeled

Lot Details

0

Listing Details

  • CapRate: 3.82
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: Belmont Shore (BSD)
  • View: Yes
  • Zoning: LBR4R
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7247024026
  • Year Built: 1950
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Laminate, Tile, Vinyl, Wood
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 720.46

Exterior Features

  • Foundation: Slab
  • View: Ocean, Panoramic
  • Fence: No
  • Pool Private: No
  • Roof: Flat
  • Spa: No

Garage/Parking

  • Parking: No

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Cooktop, Gas Water Heater, Refrigerator
  • Heating Type: Combination
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Dual
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Fishing, Park, Watersports, Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot, Walkstreet
  • Lot Size: 30 x 90
  • Lot Size Sq Ft: 2707.00
  • Lot Size Acres: 0.0621

Multi Family

  • Average1 Bed Area: 578 Square Feet
  • Gross Income: 143916.00
  • Gross Multiplier: 17.37
  • Gross Operating Income: 141038.00
  • Gross Scheduled Income: 143916.00
  • Laundry Income: 2016.00
  • Lot Size Area: 2707.0000 Square Feet
  • Net Operating Income: 95386.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 45652.00
  • Rent Control: No
  • Total Expenses: 45652.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • Tax Block: 28
  • Tax Census Tract: 5773.00
  • Tax Lot: 30
  • Tax Tract Number: 3750

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
05/05/2021 05/05/21 Sold $2,500,000 -10.6% $720 / Sq Ft
04/16/2021 04/16/21 Price Changed $2,795,000 -3.5% $805 / Sq Ft
03/17/2021 03/17/21 Price Changed $2,895,000 -3.3% $834 / Sq Ft
03/03/2021 03/03/21 For Sale $2,995,000 -- $863 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21041669

California Regional Multiple Listing Service (CRMLS)