Address
338 E 7th Street Long Beach, CA
Price
$ 2,295,000
Property Attributes
  • MLS#RS18087051
  • TypeIncome
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaDowntown Area - Alamitos Beach
  • NeighborhoodDowntown
  • Zip90813
  • Style
  • Price$ 2,295,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage6713
  • Lot Size5,296 SqFt
Listing Provided Courtesy Of:
Andrew McAllister with Nationwide Real Estate Execs.
Property Description

Significant value add opportunity, priced at a 5.11% cap rate comprised of 10 spacious 1 Bed / 1 Bath units averaging 670 SF each. (4) units have undergone "gut" remodels to the studs, including porcelain tile floors, stainless steel appliances, quartz counters, custom cabinets, modern light fixtures, & marble shower tile. A 5th unit will be modernized and put in a condition suitable for a new investor to add finishes of their liking. Exterior improvements include a new roof in 2018, drought tolerant landscaping, custom metal work around the property for improved security & modern exterior paint. Great opportunity for an investor looking for a stable building with a realistic value add component and a 6.03% cap rate at market rents.

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
4/16/2018 Listed $2,295,000

General Features

Attached Structure Detached
Community Features Curbs, Gutters, Sidewalks, Storm Drains, Street Lighting, Urban
Levels Two
Listagentstatelicense 01946829
Listing Agent Andrew McAllister - BRE#01946829
MLS Area 4 - Downtown Area, Alamitos Beach
Price Per Square Foot 341.87
Special Listing Conditions Standard
Subdivision Downtown (DT)
Subdivisionnameother Downtown (DT)
Total Units 10
Zoning LBPD30

Interior Features

Average1bedareaunits Square Feet
Average2bedareaunits Square Feet
Average3bedareaunits Square Feet
Averagestudioareaunits Square Feet
Common Walls No Common Walls
Laundry Features Community, Inside
Laundry Y/N 1
Total Stories 2

Exterior Features

Building Area Total 6713.00
Garage Spaces 0.00
Lot Features Corner Lot, Lot-Level/Flat
Lot Size Source Assessor
Lot Size Square Feet 5296.00
Lotsizeunits Square Feet
Number of Buildings 1
Number of Separate Electric Meters 11
Number of Separate Gas Meters 6
Number of Separate Water Meters 1
Pool Features None
Total Parking 0.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90813

Price
AVG $1.32M
$2.3M
Visits
AVG 29
7
Year Built
AVG 1937
1912

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