4117 E 7th Street, Long Beach CA, 90804

Sold

4117 E 7th Street

Long Beach CA, 90804

$5,400,000

$494.28 per sqft

Sold

10,925 sqft

Residential

Built in 1962

Listed by Steven Bogoyevac with Steven M. Bogoyevac, Broker 562-436-5800

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.

PW22044782

MLSⓇ ID

March 7, 2022

Listed

March 23, 2024

Updated

Map

4117 E 7th Street
Long Beach CA, 90804

Interior Features

Total Stories: 2
Laundry Description: Common Area
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.27 Acres
Sewer: Public Sewer

Other Property Details

Area Name: 2 - Belmont Heights, Alamitos Heights
Days on Market: 28
Garage: Yes
Garage Spaces: 8
Parking Total: 8
View: No
County: Los Angeles
Water Source: Public
Pool: No
Pool Features: None
Zoning: LBCCA
Buyer Agency Compensation: 2%

Listing Contact: 562-436-5800

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 3/23/2024 at 1:52 AM UTC