2521 7th st, Long Beach, CA 90804
Active
$2,175,000
13%
10 Units
16 Beds
12 Baths
9,358 Area(sq.ft.)
Lot: 7,322 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 1,175 | $ 1,175 | $ 1,895 |
| Unit 2 | 2 | 2 | 1 | No | $ 1,305 | $ 2,610 | $ 2,095 |
| Unit 3 | 1 | 2 | 2 | No | $ 1,545 | $ 1,545 | $ 2,150 |
| Unit 4 | 1 | 2 | 2 | No | $ 1,305 | $ 1,545 | $ 2,195 |
| Unit 5 | 1 | 3 | 2 | No | $ 1,425 | $ 1,425 | $ 2,595 |
| Unit 6 | 1 | 3 | 2 | No | $ 1,555 | $ 1,555 | $ 2,795 |
| Unit 7 | 3 | 3 | 2 | No | $ 1,516 | $ 4,550 | $ 2,895 |
| 10 | 24 | 17 | $ 14,163 | $ 26,115 | $ 24,505 |
| MLS #: | PW24222928MR |
| Days On Market: | 404 |
| Listing Date: | October 28, 2024 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 232 |
| Price per unit: | $ 217,500 |
| Year Built: | 1963 |
Property Details
Introducing an exceptional investment opportunity in Long Beach, CA. This impressive property boasts a 9,358 SF building with 10 well-appointed units offering a mix of 1, 2 & 3-bedroom layouts, appealing to a range of tenants. Built in 1963, the property features newer windows, electrical panels, and railings, enhancing its appeal to savvy investors. With a price of $232.42 and $217,500 per unit, this offering presents an attractive value proposition. Additionally, the property promises a lucrative added value opportunity, with a projected 85% in rental upside, making it an enticing option for long-term ownership. The motivated sellers further enhance the appeal of this promising investment prospect.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 167,790 |
| Total Annual Expense: | $ 59,637 |
| Net Operating Income: | $ 108,153 |
| Cap Rate: | 5% |
| Gross Rent Multiplier: | 12.57 |
| Actual Gross Rent: | $ 14,165 |
Structure
| Community Features: | Curbs, Gutters, Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Land Lease Type: | Fee |
Interior
| Laundry: | Community |
| Laundry Income: | 3000.00 |
Exterior
| Pool: | No |
Detailed Map
Schools
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Income
