1242 E 7th ST Long Beach, CA 90813
8,023 Sqft Lot
UPDATED:
01/22/2025 02:37 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW25014615
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1911
Lot Size 8,023 Sqft
Property Description
This property offers significant value-add potential. The lot includes five garages, presenting an ideal opportunity for Accessory Dwelling Unit (ADU) conversion to maximize rental income. Additionally, the large lot size and layout provide ample space to build additional units. Other highlights include a long driveway and ample parking, a rare and desirable feature in urban multifamily properties. This makes the property particularly attractive to tenants and ensures strong occupancy rates.
For those considering living on-site, one unit is currently vacant, offering the perfect owner-user opportunity to live in one unit while collecting income from the others. Alternatively, the vacancy allows for immediate leasing at market rent, boosting cash flow. With its modernized interiors, potential for expansion, and prime location near downtown Long Beach, this property is an excellent opportunity for investors and owner-users alike. Don't miss out on this rare combination of current income and future upside.
4th Unit approval eminent.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBCNR
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Curbs, Dog Park, Golf, Gutter(s), Hiking, Park, Street Lights, Suburban, Sidewalks
Total Parking Spaces 5
Private Pool No
Building
Lot Description Back Yard, Level, Near Public Transit, Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 7266012003
Energy Description 840.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
