This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
707 E 7th St
Long Beach, CA 90813
6.44% Pro Forma Cap - Motivated Seller · Multifamily Property For Sale
·
10 Units
Property Facts
| No. Units | 10 | Lot Size | 0.17 AC |
| Property Type | Multifamily | Building Size | 6,544 SF |
| Property Subtype | Apartment | Average Occupancy | 80% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1933 |
| Zoning | LBPD30 | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,544 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1933 |
| Zoning | LBPD30 |
About 707 E 7TH ST , LONG BEACH, CA 90813
First time on the market in over 17 years. Property is currently operating as 9 units, but shows 10 legal units on record. Huge value-add opportunity with below market rents and a Pro Forma Cap Rate of 6.44% based on conservative market rents. The property is comprised of EIGHT (Studios) and ONE (11+ 3 House). The house was built as two separate single family houses and legally converted into a duplex in 1999. 4 of the 8 Studios have been remodeled and the house is in good condition. All leases are month to month and there is significant upside for a new investor by remodeling unit interiors and raising rents to market. The house and two studios are currently vacant, allowing a Buyer to begin raising rents immediately.
Property Taxes
| Parcel Number | 7274-020-013 | Improvements Assessment | $727,272 |
| Land Assessment | $1,350,650 | Total Assessment | $2,077,922 |
Property Taxes
