Long Beach, CA 90813 1242 E 7th Street

1242 E 7Th Street Long Beach, Ca - Image 11242 E 7Th Street Long Beach, Ca - Image 21242 E 7Th Street Long Beach, Ca - Image 3
20 more
1242 E 7Th Street Long Beach, Ca - Image 41242 E 7Th Street Long Beach, Ca - Image 51242 E 7Th Street Long Beach, Ca - Image 61242 E 7Th Street Long Beach, Ca - Image 71242 E 7Th Street Long Beach, Ca - Image 81242 E 7Th Street Long Beach, Ca - Image 91242 E 7Th Street Long Beach, Ca - Image 101242 E 7Th Street Long Beach, Ca - Image 111242 E 7Th Street Long Beach, Ca - Image 121242 E 7Th Street Long Beach, Ca - Image 131242 E 7Th Street Long Beach, Ca - Image 141242 E 7Th Street Long Beach, Ca - Image 151242 E 7Th Street Long Beach, Ca - Image 161242 E 7Th Street Long Beach, Ca - Image 171242 E 7Th Street Long Beach, Ca - Image 181242 E 7Th Street Long Beach, Ca - Image 191242 E 7Th Street Long Beach, Ca - Image 201242 E 7Th Street Long Beach, Ca - Image 211242 E 7Th Street Long Beach, Ca - Image 221242 E 7Th Street Long Beach, Ca - Image 231242 E 7Th Street Long Beach, Ca - Image 24
Presented By: Stelios Zoumberakis with Keller Williams Coastal Prop.; stelios@szcre.com
  • MLS# PW25014615
  • 01/21/2025
  • Request Tour
  • Request Info
  • BedBeds • 2
  • BathBaths • 1
  • FootageSQFT • 2,875
  • GarageGarage • 5

Home Details

Located at 1242 E 7th St., Long Beach, CA, this beautiful turnkey 4-unit Craftsman property offers a prime investment or owner-user opportunity in a vibrant, centrally located North Alamitos Beach neighborhood. The property sits on a 8,000 sq. ft. lot and features a 2,875 sq. ft. building, delivering a mix of spacious and stylishly remodeled units. The property includes one three-bedroom unit (~ 775 sq. ft.), two two-bedroom units (~750 sq. ft.), and one one-bedroom unit (~ 600 sq. ft.). Each unit has been completely remodeled, featuring modern interiors, updated kitchens and baths, and premium finishes, making this property a true turnkey investment. This property offers significant value-add potential. The lot includes five garages, presenting an ideal opportunity for Accessory Dwelling Unit (ADU) conversion to maximize rental income. Additionally, the large lot size and layout provide ample space to build additional units. Other highlights include a long driveway and ample parking, a rare and desirable feature in urban multifamily properties. This makes the property particularly attractive to tenants and ensures strong occupancy rates. For those considering living on-site, one unit is currently vacant, offering the perfect owner-user opportunity to live in one unit while collecting income from the others. Alternatively, the vacancy allows for immediate leasing at market rent, boosting cash flow. With its modernized interiors, potential for expansion, and prime location near downtown Long Beach, this property is an excellent opportunity for investors and owner-users alike. Don’t miss out on this rare combination of current income and future upside. 4th Unit approval eminent.
Presented By: Stelios Zoumberakis with Keller Williams Coastal Prop.; stelios@szcre.com

Interior Features for 1242 E 7th Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2

Other Rooms

Entry Level1

General for 1242 E 7th Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.94
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, DogPark, Golf, Gutters, Hiking, Park, StreetLights, Suburban, Sidewalks
ContingencyNone
CountyLos Angeles
Directions7th St between Almond Ave and Orange Ave.
Electric Expense560.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense840.0
Garage Spaces5.0
Garage Y/NYes
Gross Income124000.0
HOANo
Home Warranty Y/NNo
Insurance Expense3000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet8022.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
MobileHomeRemainsYNNo
Net Operating Income89000.0
New ConstructionNo
NumberOfUnitsTotal4
Operating Expense31500.0
Pool FeaturesNone
Property Attached Y/NYes
Property ConditionUpdatedRemodeled
Property Sub Type AdditionalQuadruplex
Property SubtypeQuadruplex
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameAlamitos Beach (AB)
Tax Lot3
Tenant PaysElectricity, Gas
Trash Expense1400.0
Water Sewer Expense2000.0
Waterfront Y/NNo
Year Built1911
Year Built SourcePublicRecords
ZoningLBCNR

Exterior for 1242 E 7th Street

Building Area Total2875.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesBackYard, Level, NearPublicTransit, RectangularLot
Lot Size Acres0.1842
Lot Size Area8022.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters5
Number of Separate Gas Meters5
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking5.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $1,800,000
MLS#PW25014615
List Date 01/21/2025
Property Type Multi-Family
Phone 714.964.3311
Request Tour
Request Info
Visit My Website

Similar Properties to 1242 E 7th Street