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1242 E 7th Street

Long Beach, CA 90813
  • $1,495,000
  • STATUS: Active
  • ON SITE: 32 Days
  • ID#: PW22153686
UPDATED: 78 min ago
$1,495,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1911
County:

School Ratings & Info

Listing Agent(s): Giannina Silva of INTI Realty (562-572-4978)


Description

1242 E 7th Street is the Long Beach 3 unit building you've been waiting for, with an additional 4th unit! The property's income opportunities are endless. Besides being in a prime location of North Alamitos Beach; 1242 E 7th St. offers large units and an awesome unit mix of one large 3 Bedroom /2 Bath unit, one 2 Bedroom /1.5 Bath unit, one 2 Bedroom/ 1 Bath units and one 1 bedroom/ 1 bath upstairs back unit with a private patio deck- each with their own garage plus a fifth garage for you to have additional income. Two of the units have tankless water heaters as well as the shared laundry room by the garages. With a long and large driveway and sitting on a 8,022 sqft. lot; this property has potential for building additional units and ADUs. With proximity to 4th Streets Retro Row, Downtown Long Beach and a bike ride to the beach, your new building will appeal to a wide range of tenants. As an added bonus, the best part is that you get to set the new rents with ALL units to be delivered vacant at close of escrow. Now, that's hot!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-15T23:27:38.77. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Villa Real Estate. Licensed in the State of California, USA.
www.thecharlieprice.com/homes/130899660
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1242 E 7th Street Long Beach, CA 90813

  • Price: $1,495,000
  • Status: Active
  • On Site: 32 Days
  • Updated: 78 min ago
  • ID#: PW22153686
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1911
Built
Neighborhood:
Alamitos Beach (Ab)
County:
Los Angeles
Area:
4 - Downtown Area, Alamitos Beach
Property Description
1242 E 7th Street is the Long Beach 3 unit building you've been waiting for, with an additional 4th unit! The property's income opportunities are endless. Besides being in a prime location of North Alamitos Beach; 1242 E 7th St. offers large units and an awesome unit mix of one large 3 Bedroom /2 Bath unit, one 2 Bedroom /1.5 Bath unit, one 2 Bedroom/ 1 Bath units and one 1 bedroom/ 1 bath upstairs back unit with a private patio deck- each with their own garage plus a fifth garage for you to have additional income. Two of the units have tankless water heaters as well as the shared laundry room by the garages. With a long and large driveway and sitting on a 8,022 sqft. lot; this property has potential for building additional units and ADUs. With proximity to 4th Streets Retro Row, Downtown Long Beach and a bike ride to the beach, your new building will appeal to a wide range of tenants. As an added bonus, the best part is that you get to set the new rents with ALL units to be delivered vacant at close of escrow. Now, that's hot!
Exterior Features

Lot Features Rectangular Lot Number Of Separate Electric Meters 4 Open Parking Spaces 3 Parking Features DrivewayGarage Parking Total 8 Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No

Interior Features

Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Flooring LaminateTileVinyl Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Cap Rate 7.95 Common Interest Community Apartment Community Features CurbsStreet LightsSidewalks Garage YN Yes Gross Income 123600 Gross Scheduled Income 123600 Insurance Expense 1668 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Maintenance Expense 2400 Net Operating Income 118779 New Construction YN No Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 4821 Property Sub Type Triplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 348 Water Sewer Expense 169 Water Source Public Zoning Lbcnr



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-15T23:27:38.77. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Villa Real Estate. Licensed in the State of California, USA.
 
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Villa Real Estate
450 Newport Center Drive, Suite 100
Newport Beach CA, 92660
Listing Agent(s): Giannina Silva of INTI Realty (562-572-4978)