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2022 E 7th St, Long Beach, CA 90804
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2022 E 7th St Long Beach, CA 90804

$2,375,000 Sold Price as of 09/30/2021
  • 16 Beds
  • 16 Baths
  • 6,944 Sq.Ft.
Sold
$2,375,000 Sold Price as of 09/30/2021 Refinance Your Mortgage
Map preview of 2022 E 7th St, Long Beach, CA 90804

Property Overview: 2022 E 7th St Long Beach, CA has 16 bedrooms, 16 bathrooms, 6,944 living square feet and 7,002 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present an 8-unit apartment building located in Long Beach, California. Built in 1987, the subject property consists of 6,944 rentable square feet spread throughout a 7,001 square foot lot. The unit mix consists of all 2- bedroom / 2-bathroom units. It is separately metered for gas and electricity. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was completed and opened in September 2013. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a high demand rental market with strong in place income in one of the best neighborhoods of Long Beach.

Listed by Kevin King | BRE #01158184 | Marcus & Millichap
Last checked: 4 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 99

Home details

Lot Sq. Ft
7,002
HOA Dues
$0/mo
Year built
1986
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
PW20258168
City
Long Beach
County
Los Angeles
Time on Site
1214 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,695
  • Total Rent: $1,695
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,550
  • Total Rent: $9,300
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,795
  • Total Rent: $1,795
  • Pro Forma/Market Rent: $1,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $148,876
  • Net Operating Income: $96,554
  • Gross Operating Income: --
  • Laundry Income: $1,560
Annual Expense Breakdown
  • Total Operating Expense: $58,882
  • Electric: $951
  • Gas/Fuel: $951
  • Licenses: $625
  • New Taxes: $29,911
  • Trash: $951
  • Gardener: $1,530
  • Insurance: $2,693
  • Maintenance: $7,674
  • Professional Management: $6,202
  • Water/Sewer: $951
  • Other Expenses: $1,445
  • Other Expense Description: Dir.Asse

Property Details for 2022 E 7th St

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 7262025003
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer, Septic Type Unknown
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Eastside (ES)
  • Directions: 7th Street & Cherry Ave.
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 2022 E 7th St

Last sold for $2,375,000 on September 30th, 2021

  • September, 2021

  • Sep 30, 2021

    Date

    Sold

    CRMLS: PW20258168

    $2,375,000

    Price

  • Mar 24, 2021

    Date

    Pending

    CRMLS: PW20258168

    $2,472,000

    Price

  • Dec 16, 2020

    Date

    Active

    CRMLS: PW20258168

    $2,472,000

    Price

  • May, 1994

  • May 31, 1994

    Date

    Sold (Public Records)

    Public Records

    $253,000

    Price

  • February, 1994

  • Feb 8, 1994

    Date

    Sold (Public Records)

    Public Records

    $210,000

    Price

Show More

Tax History for 2022 E 7th St

Assessed Value (2020): $396,697
Year Land Value Improved Value Assessed Value
2020 $139,038 $257,659 $396,697

Home Value Compared to the Market

This property vs the competition

2022 E 7th St sold on September 30, 2021 for 209% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $355.99 per/sqft which puts the price per square foot 43.67% lower than the current median sale per square foot for the city of Long Beach.

About 2022 E 7th St

Detailed summary of property

2022 E 7th St is a multi family that recently sold in Long Beach, CA 90804. This multi family property offered 16 bedrooms, 16 bathrooms, roughly 6,944 living square feet, and sits on an approximately 7,002 square foot lot. 2022 E 7th St was first listed on ArdentRealEstateGroup.com on January 20, 2021. The homeowner sold the property for $2,375,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 209% higher than the current median priced home. Local homes that are currently for sale include 3056 E Broadway, 1141 E 16th St and 650 E 15th St. While the average home in Long Beach, CA is selling in 51 days, 2022 E 7th St has a days on market of 99 days. There are currently 639 homes for sale in the Long Beach real estate market and 366 of them are single family homes while 259 of them are condos and 14 are townhomes. For more information on this home for sale at 2022 E 7th St Long Beach, CA 90804 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 2022 E 7th St

Public county record property details
Beds
16
Baths
16
Year built
1986
Sq. Ft.
6,944
Lot Size
7,001
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
7262-025-003

The source for these homes facts are from public records.

90804 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$515,000
Median List Price/Sq.Ft.
$594
Median Sold Price
$550,000
Median Sold Price/Sq.Ft.
$667
Total Inventory
53
Median Sale to List Price %
104.77%
Avg Days on Market
23
Loan Type
Conventional (57.14%), FHA (0%), VA (14.29%), Cash (28.57%), Other (0%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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