1930 7th st, Long Beach, CA 90813
Pending
$1,695,000
8%
8 Units
4 Beds
3 Baths
5,406 Area(sq.ft.)
Lot: 6,227 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 6 | 2 | 1 | No | $ 1,275 | $ 7,650 | $ 2,095 |
| Unit 2 | 2 | 2 | 2 | No | $ 1,500 | $ 3,000 | $ 2,195 |
| 8 | 16 | 10 | $ 10,650 | $ 51,900 | $ 16,960 |
| MLS #: | PW24222871MR |
| Days On Market: | 413 |
| Listing Date: | October 28, 2024 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 314 |
| Price per unit: | $ 211,875 |
| Year Built: | 1943 |
Property Details
Discover an exceptional investment opportunity with this multifamily property in the sought-after Long Beach area. Boasting a 5,406 SF building with 8 two-bedroom units, this charming property, built in 1943, offers a prime location and impressive potential for a low-rise/garden investor. The added value opportunity provides the investor with the ability to purchase a heavily discounted asset and achieve above market returns through capital improvements and increased rental income. With its desirable address and strong rental demand, this property presents a lucrative investment for those seeking to expand their portfolio in the thriving Long Beach market. Take advantage of this chance to own a piece of Long Beach's rich real estate landscape.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 123,966 |
| Total Annual Expense: | $ 46,238 |
| Net Operating Income: | $ 77,728 |
| Cap Rate: | 4.59% |
| Gross Rent Multiplier: | 13.26 |
| Actual Gross Rent: | $ 10,650 |
Structure
| Community Features: | Curbs, Gutters, Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBCNR |
| Land Lease Type: | Fee |
Interior
| Laundry: | None |
Exterior
| Pool: | No |
Detailed Map
Schools
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Income
