2123-2131 E 7th St - Apartments FOR SALE


Long Beach, CA 90804- Eastside Long Beach
$1,325,000 USD
562-556-1118
2123-2131 E 7th St, Long Beach, CA for Sale
$1,325,000 USD
Apartments - FOR SALE
1/7
null | 7.04% Cap Rate

2123-2131 E 7th St
Long Beach, CA 90804
Eastside Long Beach


HIGHLIGHTS

  • 7.04% Cap Rate & 9.14 GRM with upside to 8.57% Cap Rate & 8.12 GRM
  • Across the street from Renowned Heritage - Michelin Starred Restaurant, & New $1M Condos
  • Four 2 Bed/1 Bath Units and Two 1 Bed/1 Bath Units
  • Easy Garage Conversion to ADU and/or Additional Units Above Garages
  • New Roof in 2020 & All SB721 Balcony Work Complete
  • Three Separate Structures on an XL Lot Consisting of a Large 4-Plex & 2 Detached Units

OVERVIEW

- Excellent Rose Park Location – Across the street from Renowned Heritage Michelin Starred Restaurant & New $1M Condos - Three Separate Structures on an XL Lot Consisting of a Large 4-Plex & 2 Detached Units - Easy Garage Conversion to ADU and/or Additional Units Above Garages - Four 2 Bed/1 Bath Units and Two 1 Bed/1 Bath Units - Two Single-Car Garages, Plus Surface Parking - New Roof in 2020 & All SB721 Balcony Work Complete - Located in an Opportunity Zone, potentially allowing for preferential tax treatment for your recent capital gains *2 Bd/1 Ba units are functionally 2 Bedrooms, but show as 1 Bd/ 1 Ba on the tax roll. All square footage is legal. Buyer to verify.

FOR SALE DETAILS

PRICE

$1,325,000 USD

PRICE/SF

$183 USD /SF

# OF UNITS

6

PRICE/UNIT

$220,833

CAP RATE

7.04%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7.04% Cap Rate in Prime Rose Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,197 SF

ZONING

-

APN/PARCEL ID

7262-023-034

ASK ABOUT THIS PROPERTY

Shane YoungYoung Lewin AdvisorsMore Info
562-556-1118

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Shane YoungYoung Lewin AdvisorsMore Info
562-556-1118

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.