1930 7Th StLong Beach, CA 90813

This exceptional investment opportunity presents a charming 8-unit apartment building located at 1930 E 7th St, Long Beach, CA 90813. The property, built in 1943, encompasses 5,406 square feet on a 6,277 square foot lot and features all two-bedroom units. Currently classified as a Class C multifamily property, this value-add investment offers significant upside potential. The property boasts a current NOI of $66,400 and a 3.59% cap rate, but a pro-forma NOI of $149,742 and a pro-forma cap rate of 8.09% demonstrates substantial room for improvement. The asking price is $1,850,000, translating to $231,250 per unit and $342.21 per square foot. Recent upgrades include newer windows and decks. The property is situated in a strong rental location within Los Angeles County, offering long-term ownership prospects. This fee-simple ownership opportunity is part of a larger four-property portfolio, but can be purchased independently. The property's strong rental demand and potential for increased rental income make it an attractive investment for those seeking above-market returns through capital improvements. The APN is 7266-023-027. This is a low-rise/garden style building with one building and two stories.