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401 E 7th Street

Long Beach, CA 90813
  • $1,095,000
  • STATUS: PENDING
  • ON SITE: 49 Days
  • ID#: SB21195702
Pending
UPDATED: 7 min ago
$1,095,000
  • 7
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Craftsman corner lot 4-unit property in Downtown Long Beach's East Village Arts District. Great curb appeal and filled with character, only blocks away from billions of dollars in new development, restaurants, galleries, studios, and the ocean. Excellent value-add opportunity with 2 units to be delivered vacant plus a 15% upside in current rents. Strong in-place income at 14.33X gross on current rents and a market GRM of 12.5. 2 garages for additional income and tenant convenience. Rare opportunity to own a well-located 4-unit property for just above $1M. Great unit mix in dense rental market with low vacancy. Perfect for an owner occupant buyer or as an investment property. Craftsman corner lot 4-unit property in Downtown Long Beach's East Village Arts District. Great curb appeal and filled with character, only blocks away from billions of dollars in new development, restaurants, galleries, studios, and the ocean. Excellent value-add opportunity with 2 units to be delivered vacant plus a 15% upside in current rents. Strong in-place income at 14.33X gross on current rents and a market GRM of 12.5. 2 garages for additional income and tenant convenience. Rare opportunity to own a well-located 4-unit property for just above $1M. Great unit mix in dense rental market with low vacancy. Perfect for an owner occupant buyer or as an investment property.

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This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
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401 E 7th Street Long Beach, CA 90813

  • Price: $1,095,000
  • Status: PENDING
  • Updated: 7 min ago
  • ID#: SB21195702
7
Beds
0
Baths
0
½ Baths
0.09
Acres
Neighborhood:
Long Beach (90813)
County:
Los Angeles
Area:
Long Beach (90813)
Property Description
Craftsman corner lot 4-unit property in Downtown Long Beach's East Village Arts District. Great curb appeal and filled with character, only blocks away from billions of dollars in new development, restaurants, galleries, studios, and the ocean. Excellent value-add opportunity with 2 units to be delivered vacant plus a 15% upside in current rents. Strong in-place income at 14.33X gross on current rents and a market GRM of 12.5. 2 garages for additional income and tenant convenience. Rare opportunity to own a well-located 4-unit property for just above $1M. Great unit mix in dense rental market with low vacancy. Perfect for an owner occupant buyer or as an investment property. Craftsman corner lot 4-unit property in Downtown Long Beach's East Village Arts District. Great curb appeal and filled with character, only blocks away from billions of dollars in new development, restaurants, galleries, studios, and the ocean. Excellent value-add opportunity with 2 units to be delivered vacant plus a 15% upside in current rents. Strong in-place income at 14.33X gross on current rents and a market GRM of 12.5. 2 garages for additional income and tenant convenience. Rare opportunity to own a well-located 4-unit property for just above $1M. Great unit mix in dense rental market with low vacancy. Perfect for an owner occupant buyer or as an investment property.
Exterior Features

Pool N/K

Interior Features

Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 2 Total Baths Unit4 2

Property Features

Actual Cap Rate 4.0 Annual Expense Actual 29257 Buildings 1 Cfd Mello Roos Fee 0.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 14.3 Gross Scheduled Income Actual 74016 Home Owners Fees 0.0 Terms CashConventional Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 1028.0 Unit2 Rent Actual 0.0 Unit3 Rent Actual 0.0 Unit4 Rent Actual 1890.0 Zoning Public Rec

Listing provided courtesy of Buckingham Investments, Inc. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
 
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