2521 E 7th St
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2521 E 7th St
10 Unit Apartment Building $2,500,000 ($250,000/Unit) 3.75% Cap Rate Long Beach, CA 90804
Investment Highlights
- Incredible Unit Mix Consisting of 1, 2 & 3-Bedrooms
- Added Value Opportunity – Projected ±85% in Rental Upside
- Newer Windows, Electrical Panels & Railings
- Price at $267.15/SF and $250,000/Unit
- Long Term Ownership – Motivated Sellers
- Part of a (4) Property Portfolio - Can Be Purchased Separately or Together
Executive Summary
Introducing an exceptional investment opportunity in Long Beach, CA. This impressive property boasts a 9,358 SF building with 10 well-appointed units offering a mix of 1, 2 & 3-bedroom layouts, appealing to a range of tenants. Built in 1963, the property features newer windows, electrical panels, and railings, enhancing its appeal to savvy investors. With a price of $267.15/SF and $250,000 per unit, this offering presents an attractive value proposition. Additionally, the property promises a lucrative added value opportunity, with a projected ±85% in rental upside, making it an enticing option for long-term ownership. The motivated sellers further enhance the appeal of this promising investment prospect.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$158,640
|
$16.95
|
| Other Income |
$3,000
|
$0.32
|
| Vacancy Loss |
$4,849
|
$0.52
|
| Effective Gross Income |
$156,791
|
$16.75
|
| Taxes |
$33,145
|
$3.54
|
| Operating Expenses |
$29,986
|
$3.20
|
| Total Expenses |
$63,131
|
$6.75
|
| Net Operating Income |
$93,660
|
$10.01
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $158,640 |
| Annual Per SF | $16.95 |
| Other Income | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $0.32 |
| Vacancy Loss | |
|---|---|
| Annual | $4,849 |
| Annual Per SF | $0.52 |
| Effective Gross Income | |
|---|---|
| Annual | $156,791 |
| Annual Per SF | $16.75 |
| Taxes | |
|---|---|
| Annual | $33,145 |
| Annual Per SF | $3.54 |
| Operating Expenses | |
|---|---|
| Annual | $29,986 |
| Annual Per SF | $3.20 |
| Total Expenses | |
|---|---|
| Annual | $63,131 |
| Annual Per SF | $6.75 |
| Net Operating Income | |
|---|---|
| Annual | $93,660 |
| Annual Per SF | $10.01 |
Property Facts
| Price | $2,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $250,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 3.75% | Building Size | 9,358 SF |
| Gross Rent Multiplier | 15.47 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 0.53/1,000 SF |
| Price | $2,500,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 3.75% |
| Gross Rent Multiplier | 15.47 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 9,358 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.53/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,080 | - |
| 2+1 | 2 | $1,200 | - |
| 2+1.5 | 1 | $1,420 | - |
| 2+2 | 1 | $1,200 | - |
| 3+1 | 1 | $1,310 | - |
| 3+1.5 | 1 | $1,430 | - |
| 3+2 | 3 | $1,460 | - |
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Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 7262-019-023 | Total Assessment | $608,279 (2024) |
| Land Assessment | $221,584 (2024) | Annual Taxes | $33,145 ($3.54/SF) |
| Improvements Assessment | $386,695 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
7262-019-023
Land Assessment
$221,584 (2024)
Improvements Assessment
$386,695 (2024)
Total Assessment
$608,279 (2024)
Annual Taxes
$33,145 ($3.54/SF)
Tax Year
2023
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2521 E 7th St
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