Long Beach, CA 90804 2521 E 7th Street
$2,175,000
5 more
Presented By: Rick Applebaum with Morgan Skenderian; rma@morganskenderian.com
Beds • 33
Baths • 12
SQFT • 9,358
Garage • 5
Year Built • 1963
Home Details
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 $232.42 and $217,500 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.
Presented By: Rick Applebaum with Morgan Skenderian; rma@morganskenderian.com
Interior Features for 2521 E 7th Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 2521 E 7th Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.0
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, Gutters, Sidewalks
CountyLos Angeles
DirectionsSouth of 8th Street and West of Molino Ave.
Electric Expense2653.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense2653.0
Garage Spaces5.0
Garage Y/NYes
Gross Income3000.0
HOANo
Home Warranty Y/NNo
Insurance Expense8655.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Conventional
Lot Size Square Feet7322.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MaintenanceExpense8390.0
MobileHomeRemainsYNNo
Net Operating Income108153.0
New ConstructionNo
Number Of Units Total10
Operating Expense59637.0
Pool FeaturesNone
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Annual Amount29101.0
Tax Lot21
Taxes$29,101
Total Actual Rent14165.0
Trash Expense2653.0
Water Sewer Expense2653.0
Year Built1963
Year Built SourceAssessor
Exterior for 2521 E 7th Street
Building Area Total9358.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1681
Lot Size Area7322.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters11
Number of Separate Gas Meters11
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking5.0
Water SourcePublic
WaterfrontY/NNo
Additional Details
Price History
Keegan Cin
Team Lead
Price
$2,175,000
MLS#PW24222928
List Date
10/28/2024
Property Type
Multi-Family
Phone
(310) 963-5595
