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707 E 7th St
Long Beach, CA 90813
6.44% Pro Forma Cap - Motivated Seller · Multifamily Property For Sale
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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
Parcel Number
7274-020-013
Land Assessment
$1,350,650
Improvements Assessment
$727,272
Total Assessment
$2,077,922
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