4117 E 7th Street $5,495,000

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    4117 E 7th Street Long Beach, CA 90804

    • 0 Beds
    • 0 Baths
    • 10,925 sq. ft.
    • Multi-Family
    • MLS# PW22044782
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    Views: 53 Days On Market: 28

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    Property Details

    4117 East 7th Street is a well-maintained 1962 construction with a mix of nine two-bedroom/one-bath and seven one-bedroom/one-bath units, ample tuck-under parking, and income-generating on-site laundry. This asset boasts a great location in the desirable Belmont Heights neighborhood within easy walking distance of Recreation Park and Colorado Lagoon and proximate to Cal State Long Beach and Belmont Shore. Permitting is nearly complete for four one-bedroom/one-bath ADU's, which are expected to achieve monthly rents of $1,925 per unit. With these four additional units, pricing looks even more attractive at $274,750 per unit with a market cap rate of 6.58 percent. The current owners are willing to serve as consultants for a new owner throughout the ADU construction process. Further adding to this asset's potential, current rents offer a new investor 36 percent potential upside.

    • General Features
      • Buyer Compensation 2.000 %
      • Community Features Urban
      • County Or Parish Los Angeles
      • Number Of Buildings 1
      • Number Of Separate Electric Meters 16
      • Number Of Separate Gas Meters 16
      • Number Of Separate Water Meters 0
      • Number Of Units Total 16
      • Subdivision Name Belmont Heights (BH)
      • YearBuilt 1962
    • Building Features
      • Laundry Features Community
      • Levels Two
    • Property Features
      • Lot Size Acres 0.27
      • Lot Features Lot 10000-19999 Sqft
      • Pool Private Y/N 0
      • Pool Features None
      • Parking Total 8.00

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    Neighborhood

    90804 (Long Beach) Demographics

    33 Median Age
    18,036 Population Density (per sq. mile)
    36% College Educated
    $52,122 Estimated Median Income
    3,041 Estimated Total Home Owners
    11,986 Estimated Total Renters
    20% / 80% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    38,151 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $815,000 Median Sales Price
    8 Homes Sold
    12 New On Market

    Average Days on Market

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $5,495,000
        5/12/2022 8:16:21 AM Status Changed Source: Multiple Listing Service New Value: Pending
        3/7/2022 8:33:00 AM New in Database Source: Multiple Listing Service New Value: $5,495,000

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        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Based on information from California Regional Multiple Listing Service, Inc. as of 7/3/2022 11:47:05 AM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.