$6,250,000
$495K PRICE DROP

5901 E Ocean Blvd Long Beach, CA 90803

Peninsula Neighborhood

Estimated payment $39,550/month

Total Views 6,382
2 Beds
4 Baths
6,748 Sq Ft
$926 Price per Sq Ft

Highlights

  • 0.16 Acre Lot
  • Laundry Room
  • Bike Trail
  • Naples Bayside Academy Rated A

About This Home

We are pleased to present a 16-unit multifamily property located on the Peninsula in Long Beach, CA 90803. Built in 1923 & 1948, the subject property consists of 6,748 rentable square feet spread throughout a 7,119 square foot lot. The building consists of six 1-bedroom / 1 bathroom units, one 1-bedroom / 1-bathroom loft unit, three loft studios, five studios, and one bachelor unit. It contains six garages providing essential parking and flexible future income / ADU opportunities. Two Contiguous Parcels on Three Lots Operating as One Property (11 Units and 4+1 Units), Providing Flexible Entry and Exit Strategies.

Listing Agent

Kevin King

Marcus & Millichap Brokerage Email: kking@marcusmillichap.com License #01158184 Listed on: 06/11/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 7,119 Sq Ft Lot
  • 1 Common Wall
  • Density is 16-20 Units/Acre
  • 7245019031

Parking

  • 6 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 6,748 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Legal Lot and Block 15 / 8
  • Tax Tract Number 5775
  • Assessor Parcel Number 7245019030
  • $1,729 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 16 Units
  • Peninsula Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Bike Trail

Building Details

  • Rent Control
  • 16 Separate Electric Meters
  • 5 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $3,125
  • Fuel Expense $3,125
  • Insurance Expense $10,000
  • Maintenance Expense $10,826
  • Other Expense $4,800
  • Professional Management Expense $16,801
  • Trash Expense $3,125
  • Water Sewer Expense $3,125
  • New Taxes Expense $78,125
  • Operating Expense $133,052
  • Gross Income $420,029
  • Net Operating Income $286,977

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

0

Parking

6

Listing Details

  • CapRate: 4.59
  • Price Per Unit: 390625
  • Professional Management Expense: 16801.00
  • Property Attached: Yes
  • Subdivision Name Other: Peninsula (PI)
  • Water Sewer Expenses: 3125.00
  • Zoning: LBR2I
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7245019030
  • Year Built: 1948
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 1 Common Wall
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 926.20

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 3125.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 7245019031
  • Land Lease: No
  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 7119.00
  • Lot Size Acres: 0.1634

Multi Family

  • Electric Expense: 3125.00
  • Fuel Expense: 3125.00
  • Garage Income: 7200.00
  • Gross Income: 420029.00
  • Gross Scheduled Income: 421020.00
  • Insurance Expense: 10000.00
  • Laundry Income: 4800.00
  • Lot Size Area: 7119.0000 Square Feet
  • Maintenance Expense: 10826.00
  • Net Operating Income: 286977.00
  • Number Of Rented Garages: 6
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 16
  • Operating Expense: 133052.00
  • Other Expense: 4800.00
  • Other Expense Description: Misc /Co
  • Rent Control: Yes
  • Total Actual Rent: 421020.00
  • Total Expenses: 133052.00

Tax Info

  • New Taxes Expense: 78125.00
  • Tax Block: 8
  • Tax Census Tract: 5775.04
  • Tax Lot: 15
  • Tax Tract Number: 5775
  • TaxOtherAnnualAssessmentAmount: 1729.00

Map

Range of Values:

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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 Change Sq Ft Price
08/26/2025 08/26/25 Price Changed $6,250,000 -3.8% $926 / Sq Ft
07/15/2025 07/15/25 Price Changed $6,495,000 -3.7% $963 / Sq Ft
06/11/2025 06/11/25 For Sale $6,745,000 -- $1,000 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25131179

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90803 Peninsula

5901 E Ocean Blvd, Long Beach, CA

This home is located at 5901 E Ocean Blvd, Long Beach, CA 90803 and is currently priced at $6,250,000, approximately $926 per square foot. This property was built in 1948. 5901 E Ocean Blvd is a home located in Los Angeles County with nearby schools including Naples Bayside Academy, Rogers Middle School, and Woodrow Wilson High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Kevin King
Listing Agent
Kevin King
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Marcus & Millichap
(562) 784-9129