1930 E 7th St
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1930 E 7th St
8 Unit Apartment Building $1,850,000 ($231,250/Unit) 3.59% Cap Rate Long Beach, CA 90813
Investment Highlights
- All Two-Bedroom Units w/Newer Windows & Decks
- 9.09 GRM and Estimated 8.8% Cash on Cash Return on Market Rents
- Strong Rental Location
- Added Value Opportunity – Projected ±73% in Rental Upside
- Long Term Ownership – Motivated Sellers
- Part of a (4) Property Portfolio - Can Be Purchased Separately or Together
Executive Summary
Discover an exceptional investment opportunity with this multifamily property in the sought-after Long Beach area. Boasting a 5,406 SF building with 8 two-bedroom units, this charming property, built in 1943, offers a prime location and impressive potential for a low-rise/garden investor. The added value opportunity provides the investor with the ability to purchase a heavily discounted asset and achieve above market returns through capital improvements and increased rental income. With its desirable address and strong rental demand, this property presents a lucrative investment for those seeking to expand their portfolio in the thriving Long Beach market. Take advantage of this chance to own a piece of Long Beach's rich real estate landscape.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$117,600
|
$21.75
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,528
|
$0.65
|
| Effective Gross Income |
$114,072
|
$21.10
|
| Taxes |
$24,519
|
$4.54
|
| Operating Expenses |
$23,153
|
$4.28
|
| Total Expenses |
$47,672
|
$8.82
|
| Net Operating Income |
$66,400
|
$12.28
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $117,600 |
| Annual Per SF | $21.75 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,528 |
| Annual Per SF | $0.65 |
| Effective Gross Income | |
|---|---|
| Annual | $114,072 |
| Annual Per SF | $21.10 |
| Taxes | |
|---|---|
| Annual | $24,519 |
| Annual Per SF | $4.54 |
| Operating Expenses | |
|---|---|
| Annual | $23,153 |
| Annual Per SF | $4.28 |
| Total Expenses | |
|---|---|
| Annual | $47,672 |
| Annual Per SF | $8.82 |
| Net Operating Income | |
|---|---|
| Annual | $66,400 |
| Annual Per SF | $12.28 |
Property Facts
| Price | $1,850,000 | Apartment Style | Low Rise |
| Price Per Unit | $231,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 3.59% | Building Size | 5,406 SF |
| Gross Rent Multiplier | 15.73 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1943 |
| Property Subtype | Apartment |
| Price | $1,850,000 |
| Price Per Unit | $231,250 |
| Sale Type | Investment |
| Cap Rate | 3.59% |
| Gross Rent Multiplier | 15.73 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,406 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1943 |
Site Amenities
- Controlled Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,173 | 650 |
| 2+2 | 2 | $1,380 | 750 |
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Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 7266-023-027 | Total Assessment | $412,756 (2024) |
| Land Assessment | $176,685 (2024) | Annual Taxes | $24,519 ($4.54/SF) |
| Improvements Assessment | $236,071 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
7266-023-027
Land Assessment
$176,685 (2024)
Improvements Assessment
$236,071 (2024)
Total Assessment
$412,756 (2024)
Annual Taxes
$24,519 ($4.54/SF)
Tax Year
2023
zoning
| Zoning Code | CN, Long Beach |
| CN, Long Beach |
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1930 E 7th St
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