1830 East 7th Street

California & West + Apartments

Created date: November 2, 2023

Date last updated: November 2, 2023

Priced at 11.59 GRM / 5.66% Cap Rate on Current Rents
All Units Fully Renovated
Beautiful 4BD / 3BD House for Potential Owner’s Unit
Most 1BD / 1BA Units Feature Attractive Patio Entrances
6 Garages Offer the Opportunity for ADU Conversion

Property Description

1830 - 1838 E. 7th Street is an 11-unit apartment asset in Long Beach, California. The property is offered at 11.59 GRM and 5.66% 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.

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Multifamily type:	Apartments \| Garden Style
Price:	$2,800,000
No. of Units:	11
Cap Rate:	5.66%
GRM /GIM:	11.99
Year Built:	1919
Year Renovated:	2021
Building Size:	6,044 Sq ft
Lot Size:	11,688.00 Sq ft
No. of Stories:	2
Opportunity Zone:	No
Price per unit:	$254,545