1830 - 1838 E. 7th Street is an 11-unit apartment asset in Long Beach, California. The property is offered at 10.95 GRM and 5.95% cap rate on current rents. The property is comprised of three buildings situated on an 11,668-square-foot lot. There are seven 1BD / 1BA units; two 2BD… Read More / 2BA units; one 3BD / 2BA unit; and one 4BD / 3BA house that could be an excellent owner's unit. Most of the 1BD / 1BA units feature attractive patio entrances. All of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. Most remodeled units offer in-unit washers and dryers. There are six garages that offer the opportunity for ADU conversion to capture additional rental income. Read Less
Property listed by Keller Williams - Santa Monica, Robert Stepp 310-774-3740
Listing Snapshot
Days Online
584
Last Updated
Property Type
Mixed Use
Lot Size
0.27 Acres
Year Built
1919
MLS Number
PW23166122
Additional Details
Building
Built in 1919, Building area total: 6,044, Levels: Two, 2 stories, 3 buildings, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Sidewalks
Expenses
Electric expense: $4,610, Fuel expense: $954, Gardener expense: $1,200, Insurance expense: $7,200, Licenses expense: $1,000, Maintenance expense: $7,700, New taxes expense: $33,378, Operating expense: $75,680, Water sewer expense: $3,840, Other expense: $3,300
Garage
6 spaces
Income
Gross income: $229,968, Net operating income: $154,287
Based on information from California Regional Multiple Listing Service, Inc. as of 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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