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401 E 7Th St, Long Beach, CA 90813
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401 E 7Th St Long Beach, CA 90813

$1,140,000 Sold Price as of 11/01/2021
  • 7 Beds
  • 6 Baths
  • 2,886 Sq.Ft.
Sold
$1,140,000 Sold Price as of 11/01/2021 Refinance Your Mortgage
Map preview of 401 E 7Th St, Long Beach, CA 90813

Property Overview: 401 E 7Th St Long Beach, CA has 7 bedrooms, 6 bathrooms, 2,886 living square feet and 3,760 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Craftsman corner lot 4-unit property in Downtown Long Beach's East Village Arts District. Great curb appeal and filled with character, only blocks away from billions of dollars in new development, restaurants, galleries, studios, and the ocean. Excellent value-add opportunity with 2 units to be delivered vacant plus a 15% upside in current rents. Strong in-place income at 14.33X gross on current rents and a market GRM of 12.5. 2 garages for additional income and tenant convenience. Rare opportunity to own a well-located 4-unit property for just above $1M. Great unit mix in dense rental market with low vacancy. Perfect for an owner occupant buyer or as an investment property.

Listed by Anthony Walker | BRE #01908153 | Buckingham Investments, Inc
Last checked: 12 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 10

Home details

Lot Sq. Ft
3,760
HOA Dues
$0/mo
Year built
1900
Garage
2 Car
Property Type:
Multi Family
Status
Sold
MLS#
SB21195702
City
Long Beach
County
Los Angeles
Time on Site
1108 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Leased Units: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,028
  • Total Rent: $1,028
  • Pro Forma/Market Rent: $1,450
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $1,450
  • Pro Forma/Market Rent: $1,450
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,890
  • Total Rent: $1,890
  • Pro Forma/Market Rent: $2,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 14.3
  • Gross Scheduled Income: $74,016
  • Net Operating Income: $43,459
  • Gross Operating Income: $72,715
  • # of Rented Garages: 2
  • Garage Rental Rate: $100
  • Garage Rental Income: $200
Annual Expense Breakdown
  • Total Operating Expense: $29,257
  • Electric: $1,436
  • Licenses: $500
  • New Taxes: $13,688
  • Trash: $1,436
  • Gardener: $660
  • Insurance: $1,600
  • Maintenance: $3,636
  • Professional Management: $4,363
  • Water/Sewer: $1,436

Property Details for 401 E 7Th St

Interior Features
Laundry Information
  • No Laundry
  • None
Exterior Features
Exterior Information
  • Has Fence
  • Wood
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 2
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 7273019013
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Downtown (DT)
  • Directions: Northeast corner of Elm and 7th St
  • Road Frontage Type: City Street
  • Road Surface Type: Maintained
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Long Beach Agent

Sale History for 401 E 7Th St

Last sold for $1,140,000 on November 1st, 2021

  • September, 2021

  • Sep 17, 2021

    Date

    Active Under Contract

    CRMLS: SB21195702

    $1,095,000

    Price

  • Sep 7, 2021

    Date

    Active

    CRMLS: SB21195702

    $1,095,000

    Price

  • June, 2015

  • Jun 9, 2015

    Date

    Sold (Public Records)

    Public Records

    $640,000

    Price

  • December, 2012

  • Dec 12, 2012

    Date

    Sold (Public Records)

    Public Records

    $495,000

    Price

Show More

Tax History for 401 E 7Th St

Assessed Value (2020): $703,316
Year Land Value Improved Value Assessed Value
2020 $494,520 $208,796 $703,316

Home Value Compared to the Market

This property vs the competition

401 E 7Th St sold on November 1, 2021 for 33.7% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $379.42 per/sqft which puts the price per square foot 39.58% lower than the current median sale per square foot for the city of Long Beach.

About 401 E 7Th St

Detailed summary of property

401 E 7Th St is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 7 bedrooms, 6 bathrooms, roughly 2,886 living square feet, and sits on an approximately 3,760 square foot lot. 401 E 7Th St was first listed on ArdentRealEstateGroup.com on September 7, 2021. The homeowner sold the property for $1,140,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 33.7% higher than the current median priced home. Local homes that are currently for sale include 1961 Pine Ave, 2000 Pacific Ave and 1930 Magnolia Ave. While the average home in Long Beach, CA is selling in 62 days, 401 E 7Th St has a days on market of 10 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 401 E 7Th St Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 401 E 7Th St

Public county record property details
Beds
7
Baths
4
Year built
1900
Sq. Ft.
2,886
Lot Size
3,759
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
9
APN
7273-019-013

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$560,000
Median List Price/Sq.Ft.
$553
Median Sold Price
$495,000
Median Sold Price/Sq.Ft.
$587
Total Inventory
35
Median Sale to List Price %
99.02%
Avg Days on Market
24
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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(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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