1830-1838 East 7th Street

Long Beach, CA 90813

$2,595,000
Price
10
Beds
16
Baths
6,044 Sq. Ft.
$429 / Sq. Ft.
6,044
Sq. Ft.
$429
per Sq. Ft.

Description

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 / 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...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 / 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.
  1. Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916

Property Details for 1830-1838 East 7th Street

Parking Spaces Total
6
Private Pool
No
Total Units
11.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
6044
Assessor Parcel Number
7266-023-009
Property Attached YN
true
LISTING UPDATED: 08/30/2024 02:51 AM

Property Details for 1830-1838 East 7th Street

StatusActive
MLS #PW23166122
Days on Market468
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1919
Lot Size0.27 AC / 11,668 SF
CountyLos Angeles County

Building Information for 1830-1838 East 7th Street

Stories2Residences-Year Built1919Building Size-Lot Size0.27 AC / 11,668 SF

Property Information for 1830-1838 East 7th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $229,968
  • Gross Scheduled Income: $237,080
  • Net Operating Income: $154,287
  • Gross Multiplier: 11.4
  • Cap Rate: 5.75
Expense Details
  • Operating Expense: $75,680
  • New Taxes Expense: $33,378
  • Gardener Expense: $1,200
  • Fuel Expense: $954
  • Licenses Expense: $1,000
  • Pest Control Expense: $1,000
  • Electric Expense: $4,610
  • Insurance Expense: $7,200
  • Maintenance Expense: $7,700
  • Professional Management Expense: $11,498
  • Other Expense: $3,300
  • Other Expense Description: Reserves
  • Trash Expense: $0
  • Water Sewer Expense: $3,840
  • Total Expenses: $75,680
Tax / Assessment Info
  • Tax Tract Number: 5765
  • Tax Census Tract: 5765.03
  • Tax Lot: B
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Additional Parcels Description: 7266023010
  • Lot Features: 11-15 Units/Acre
  • Number Of Units: 11
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 6
  • Parking Garage Spaces: 6
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Alamitos Beach
  • Builders Tract Code: Alamitos Beach (AB)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,000
  • Unit Type Total Rent: $3,000
  • Unit Type Pro Forma: 4000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,995
  • Unit Type Total Rent: $1,995
  • Unit Type Pro Forma: 2995
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,045
  • Unit Type Total Rent: $4,090
  • Unit Type Pro Forma: 2395
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 7
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,501
  • Unit Type Total Rent: $10,507
  • Unit Type Pro Forma: 1795
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1

Property History for 1830-1838 East 7th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1830-1838 East 7th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Burbank Elementary School
Public - K to 5
Franklin Classical Middle School
Public - 6 to 8
Polytechnic High School
Public - 9 to 12
Clear Passage Educational Center
Charter - 9 to 12
Rating
School
Distance
Burbank Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1830-1838 East 7th Street, Long Beach, CA 90813

1830-1838 East 7th Street is a mixed use property for sale in Long Beach, CA 90813. This property was listed for sale on September 5, 2023 by Keller Williams - Santa Monica, it's currently listed at $2,595,000. It has been on the market for a total of 468 days and was last sold on July 7, 2017. This listing's school district is Long Beach Unified School District. Nearby schools include Burbank Elementary School, Franklin Classical Middle School and Polytechnic High School. 1830-1838 East 7th Street is a 10-bed, 16-bath, 6,044 sqft mixed use property built in 1919.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.