2521 East 7th Street

Long Beach, CA 90804

$2,500,000
Price
16
Beds
16
Baths
9,358 Sq. Ft.
$267 / Sq. Ft.
9,358
Sq. Ft.
$267
per Sq. Ft.

Description

Introducing an exceptional investment opportunity in Long Beach, CA. This impressive property boasts a 9,358 SF building with 10 well-appointed units offering a mix of 1, 2 & 3-bedroom layouts, appealing to a range of tenants. Built in 1963, the property features newer windows, electrical panels, and railings, enhancing its appeal to savvy investors. With a price of $267.15/SF and $250,000 per unit, this offering presents an attractive value proposition. Additionally, the property promises a lucrative...Introducing an exceptional investment opportunity in Long Beach, CA. This impressive property boasts a 9,358 SF building with 10 well-appointed units offering a mix of 1, 2 & 3-bedroom layouts, appealing to a range of tenants. Built in 1963, the property features newer windows, electrical panels, and railings, enhancing its appeal to savvy investors. With a price of $267.15/SF and $250,000 per unit, this offering presents an attractive value proposition. Additionally, the property promises a lucrative added value opportunity, with a projected ±85% in rental upside, making it an enticing option for long-term ownership. The motivated sellers further enhance the appeal of this promising investment prospect.
  1. Listed by Rick Applebaum • DRE #01273871 • Brokerage DRE #01220368 • Morgan Skenderian • rma@morganskenderian.com

Property Details for 2521 East 7th Street

Parking Spaces Total
5
Private Pool
No
Total Units
10.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
9358
Assessor Parcel Number
7262-019-023
Property Attached YN
false
LISTING UPDATED: 10/28/2024 09:39 AM

Property Details for 2521 East 7th Street

StatusActive
MLS #PW24222928
Days on Market51
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
CountyLos Angeles County

Building Information for 2521 East 7th Street

Building/Complex2521 E 7th StFloor-Stories2Residences-Pet Policy-Year Built1963Building Size-

Property Information for 2521 East 7th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $3,000
  • Gross Scheduled Income: $161,640
  • Vacancy Allowance: 4849
  • Gross Operating Income: $156,790
  • Net Operating Income: $93,659
  • Laundry Income: $3,000
  • Gross Multiplier: 15.47
  • Cap Rate: 3.8
Expense Details
  • Operating Expense: $63,131
  • New Taxes Expense: $33,145
  • Gardener Expense: $1,877
  • Fuel Expense: $2,653
  • Electric Expense: $2,653
  • Insurance Expense: $8,655
  • Maintenance Expense: $7,840
  • Professional Management Expense: $0
  • Other Expense: $1,000
  • Other Expense Description: admin
  • Trash Expense: $2,653
  • Water Sewer Expense: $2,653
  • Total Expenses: $63,131
Tax / Assessment Info
  • Tax Annual Amount: $33,145
  • Tax Tract Number: 21
  • CFD/Mello-Roos Fee: $2,038
  • Tax Lot: 21
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Special Assessments
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,080
  • Unit Type Total Rent: $1,080
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,200
  • Unit Type Total Rent: $2,400
  • Unit Type Pro Forma: 2095
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,420
  • Unit Type Total Rent: $1,420
  • Unit Type Pro Forma: 2150
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,200
  • Unit Type Total Rent: $1,200
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,310
  • Unit Type Total Rent: $1,310
  • Unit Type Pro Forma: 2595
  • Unit Type Type: 5
Unit 6
  • 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: $1,430
  • Unit Type Total Rent: $1,430
  • Unit Type Pro Forma: 2795
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,460
  • Unit Type Total Rent: $4,380
  • Unit Type Pro Forma: 2895
  • Unit Type Type: 7
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1

Property History for 2521 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 2521 East 7th Street

Taxable ValueLand$221,584Additions$388,775Total$610,359
Tax Record2024$9,662 ($805 / month)
Home Facts
Total Finished SqFt9,358 SqFtAbove Grade Finished SqFt9,358 SqFtLot Size7,322 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningLBCNRCountyLOS ANGELESAPN7262-019-023

Schools near 2521 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
Willard Elementary School
PublicK to 5

Jefferson Leadership Academies School
Public6 to 8

Wilson 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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2521 East 7th Street is a multi-family home for sale in Long Beach, CA 90804. This property was listed for sale on October 28, 2024 by Morgan Skenderian, it's currently listed at $2,500,000. 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 Willard Elementary School, Jefferson Leadership Academies School and Wilson High School. 2521 East 7th Street is a 16-bed, 16-bath, 9,358 sqft multi-family home built in 1963.

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

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.