1930 East 7th Street

Long Beach, CA 90813

$1,850,000
Price
4
Beds
10
Baths
5,406 Sq. Ft.
$342 / Sq. Ft.
5,406
Sq. Ft.
$342
per Sq. Ft.

Description

Discover an exceptional investment opportunity with this multifamily property in the sought-after Long Beach area. Boasting a 5,406 SF building with 8 two-bedroom units, this charming property, built in 1943, offers a prime location and impressive potential for a low-rise/garden investor. The added value opportunity provides the investor with the ability to purchase a heavily discounted asset and achieve above market returns through capital improvements and increased rental income. With its desirable...Discover an exceptional investment opportunity with this multifamily property in the sought-after Long Beach area. Boasting a 5,406 SF building with 8 two-bedroom units, this charming property, built in 1943, offers a prime location and impressive potential for a low-rise/garden investor. The added value opportunity provides the investor with the ability to purchase a heavily discounted asset and achieve above market returns through capital improvements and increased rental income. With its desirable address and strong rental demand, this property presents a lucrative investment for those seeking to expand their portfolio in the thriving Long Beach market. Take advantage of this chance to own a piece of Long Beach's rich real estate landscape.
  1. Listed by Rick Applebaum • DRE #01273871 • Brokerage DRE #01220368 • Morgan Skenderian • rma@morganskenderian.com
  2. Listed by Damien Breaux • DRE #01460301 • Brokerage DRE #01220368 • Morgan Skenderian

Property Details for 1930 East 7th Street

Parking Spaces Total
0
Private Pool
No
Total Units
8.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
5406
Assessor Parcel Number
7266-023-027
Property Attached YN
false
LISTING UPDATED: 10/28/2024 09:04 AM

Property Details for 1930 East 7th Street

StatusActive
MLS #PW24222871
Days on Market51
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1943
CountyLos Angeles County

Building Information for 1930 East 7th Street

Building/Complex1930 E 7th StFloor-Stories2Residences-Pet Policy-Year Built1943Building Size-

Property Information for 1930 East 7th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $117,600
  • Vacancy Allowance: 3528
  • Gross Operating Income: $114,072
  • Net Operating Income: $66,400
  • Gross Multiplier: 15.73
  • Cap Rate: 3.6
Expense Details
  • Operating Expense: $47,672
  • New Taxes Expense: $24,519
  • Gardener Expense: $1,534
  • Fuel Expense: $2,228
  • Electric Expense: $2,228
  • Insurance Expense: $6,000
  • Maintenance Expense: $5,704
  • Professional Management Expense: $0
  • Trash Expense: $2,228
  • Water Sewer Expense: $2,228
  • Total Expenses: $47,672
Tax / Assessment Info
  • Tax Annual Amount: $24,519
  • Tax Tract Number: 576503
  • Tax Census Tract: 5765.03
  • CFD/Mello-Roos Fee: $1,500
  • Tax Lot: 4
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Special Assessments
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,173
  • Unit Type Total Rent: $7,039
  • Unit Type Pro Forma: 2095
  • Unit Type Type: 1
Unit 2
  • 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: $1,380
  • Unit Type Total Rent: $2,760
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 1930 East 7th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1930 East 7th Street

Taxable ValueLand$176,685Additions$237,771Total$414,456
Tax Record2024$6,683 ($557 / month)
Home Facts
Total Finished SqFt5,406 SqFtAbove Grade Finished SqFt5,406 SqFtLot Size6,227 SqFtStyleMulti-Family Res (5+ Units)Year Built1943ZoningLBCNRCountyLOS ANGELESAPN7266-023-027

Schools near 1930 East 7th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
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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1930 East 7th Street is a multi-family home for sale in Long Beach, CA 90813. This property was listed for sale on October 28, 2024 by Morgan Skenderian, it's currently listed at $1,850,000. It has been on the market for a total of 51 days and was last sold on December 24, 2001. 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. 1930 East 7th Street is a 4-bed, 10-bath, 5,406 sqft multi-family home built in 1943.

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 Morgan Skenderian, Rick Applebaum, DRE #01273871; Morgan Skenderian, Damien Breaux, DRE #01460301

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.