28
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$1,525,000
Est. payment /mo
5 Beds
4 Baths
5,014 Sqft Lot
New
3822 E 7th Street Long Beach, CA 90804
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Belmont Heights (Bh)
MLS Listing ID SB26163180
Bedrooms 5
Lot Size 5,014 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present 3822 E. 7th Street, a well-maintained 5-unit multifamily investment opportunity located in the Belmont Heights submarket of Long Beach. This 5,014 SF lot benefits from extremely efficient lot coverage as it features (2) separate structures, a large central courtyard, and a communal outdoor barbeque area in the rear. The front structure consists of (4) 1 Bed/1 Bath units. These spacious, nearly identical units span approximately 750 square feet each and showcase the classic character and charm associated with vintage Belmont Heights apartments. The rear structure features (1) fully remodeled 2 Bed/1 Bath unit upstairs with approximately 950 SF of living area, which includes a master bedroom and walk in closet. Downstairs, there are (3) garages (one of which is currently being used for owner storage), and an on-site laundry room with leased units. Overall, the property has been meticulously maintained by ownership and features copper plumbing throughout with a consistently maintained main sewer line, exceptional unit interiors, and a recently inspected roof found to be in excellent condition. Priced at a 5.21% CAP rate and 12.47 GRM on current in-place income, with upside to an achievable 7.63% Market CAP rate and 9.47 Market GRM, this offering provides investors with strong day-one cash flow with compelling value-add components on multiple fronts. First, the 33% rent upside is compounded by the buildings extremely efficient expense profile as owner-paid utility expenses have historically remained very low. Further, the prudent investor can increase
Location
State CA
County Los Angeles
Zoning Public Rec
Direction 7th & Termino
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7254026005
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Joshua Barut, DRE#01971720 Lyon Stahl Investment Real Estate, Inc.
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