1930 7Th StLong Beach, CA 90813

Property Details for 1930 7Th St

Year built

1943

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

5,406 SF

Zone code

LBCNR

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

7266-023-027

APU

7266023027

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,590,921

  6.5%

  $1,468,542

  7%

  $1,363,646

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,672,829

  Geo Method

  $2,672,829

• Alternative Use

  Use

  Valuation

  Residential

  $1,468,542

  Hospitality

  $1,345,177

  Educational

  $1,119,171

  Medical

  $1,157,661

  Retail

  $1,740,933

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7751

Longitude

-118.168

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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