10.95 GRM | All Units Renovated | 1830-1838 E 7th St
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10.95 GRM | All Units Renovated 1830-1838 E 7th St
11 Unit Apartment Building $2,595,000 ($235,909/Unit) 5.95% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Priced at 10.95 GRM / 5.95% Cap Rate on Actuals
- Beautiful 4BD/3BA House for Potential Owner's Unit
- 6 Garages Offer ADU Conversion Potential
- All Units Fully Renovated
- Most 1BD/1BA Units Feature Attractive Patio Entrances
EXECUTIVE SUMMARY
1830 - 1838 E. 7th Street is an 11-unit apartment asset in Long Beach, California.
The property is comprised of three buildings situated on an 11,668-square-foot lot. There are seven 1BD / 1BA units; two 2BD / 2BA units; one 3BD / 2BA unit; and one 4BD / 3BA house that could be an excellent owner's unit. Most
of the 1BD / 1BA units feature attractive patio entrances.
All of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. Most remodeled units offer in-unit washers and dryers.
There are six garages that offer the opportunity for ADU conversion to capture additional rental income.
The property is comprised of three buildings situated on an 11,668-square-foot lot. There are seven 1BD / 1BA units; two 2BD / 2BA units; one 3BD / 2BA unit; and one 4BD / 3BA house that could be an excellent owner's unit. Most
of the 1BD / 1BA units feature attractive patio entrances.
All of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. Most remodeled units offer in-unit washers and dryers.
There are six garages that offer the opportunity for ADU conversion to capture additional rental income.
PROPERTY FACTS
| Price | $2,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $235,909 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 5.95% | Building Size | 6,044 SF |
| Gross Rent Multiplier | 10.95 | No. Stories | 2 |
| No. Units | 11 | Year Built | 1921 |
| Property Type | Multifamily | Parking Ratio | 0.99/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,595,000 |
| Price Per Unit | $235,909 |
| Sale Type | Investment |
| Cap Rate | 5.95% |
| Gross Rent Multiplier | 10.95 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 6,044 SF |
| No. Stories | 2 |
| Year Built | 1921 |
| Parking Ratio | 0.99/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| 2+2 | 2 | - | - |
| 3+2 | 1 | - | - |
| 4+3 | 1 | - | - |
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Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 7266-023-010 | Improvements Assessment | $440,628 |
| Land Assessment | $1,037,430 | Total Assessment | $1,478,058 |
PROPERTY TAXES
Parcel Number
7266-023-010
Land Assessment
$1,037,430
Improvements Assessment
$440,628
Total Assessment
$1,478,058
ZONING
| Zoning Code | LBCNR |
| LBCNR |
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10.95 GRM | All Units Renovated | 1830-1838 E 7th St
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