1242 E 7th ST Long Beach, CA 90813
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW25174476
HOA Y/N No
Year Built 1911
Lot Size 8,023 Sqft
Property Sub-Type Quadruplex
Property Description
The property includes one three-bedroom unit (~ 775 sq. ft.), two two-bedroom units (~750 sq. ft.), and one one-bedroom unit (~ 600 sq. ft.). Each unit has been completely remodeled, featuring modern interiors, updated kitchens and baths, and premium finishes, making this property a true turnkey investment.
This property offers significant value-add potential. The lot includes five garages, presenting an ideal opportunity for Accessory Dwelling Unit (ADU) conversion to maximize rental income. Additionally, the large lot size and layout provide ample space to build additional units. Other highlights include a long driveway and ample parking, a rare and desirable feature in urban multifamily properties. This makes the property particularly attractive to tenants and ensures strong occupancy rates.
For those considering living on-site, one unit is currently vacant, offering the perfect owner-user opportunity to live in one unit while collecting income from the others. Alternatively, the vacancy allows for immediate leasing at market rent, boosting cash flow.
With its modernized interiors, potential for expansion, and prime location near downtown Long Beach, this property is an excellent opportunity for investors and owner-users alike. Don't miss out on this rare combination of current income and future upside. Contact us today for more information.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBCNR
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned, Controlled Entrance
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Suburban
Roof Type Shingle
Total Parking Spaces 11
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
Architectural Style Craftsman
New Construction No
Others
Senior Community No
Tax ID 7266012003
Energy Description 1260.0
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
