2521 E 7th Street, Long Beach, CA 90804

$2,500,000
List Price
$2,500,000
Status
ACTIVE
MLS#
PW24222928
Year Built
1963
Lot Size
7,322
Acres
0.17
Days on Market
5
Property Type
Multifamily
Property Sub Type
Apartment
Stories
Two Levels

Property 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 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.

Additional Information

Taxes
$33,145
Pool Description
None
Garage Spaces Total
5
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
10
Gross Scheduled Income
$161,640
Operating Expense
63131

Listing courtesy of Listing Agent: Rick Applebaum (rma@morganskenderian.com) from Listing Office: Morgan Skenderian.

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.