1830-1838 EAST 7TH STREET

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Address: 1830 E 7th St, Long Beach, CA 90813, USA
Created date: March 27, 2024
Date last updated: March 27, 2024

Property Description

1830 - 1838 E. 7th Street is an 11-unit apartment asset in Long Beach, California. The property is offered at 11.40 GRM and 5.75% 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 / 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.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $2,700,000
No. of Units: 11
Cap Rate: 5.75%
GRM /GIM: 11.4
Year Built: 1921
Building Size: 6,044 Sq ft
Lot Size: 11,668.00 Sq ft
No. of Stories: 2
Opportunity Zone: No
Price per unit: $245,455
Address: 1830 E 7th St, Long Beach, CA 90813, USA

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