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4117 E 7Th St, Long Beach, CA 90804
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4117 E 7Th St Long Beach, CA 90804

$5,750,000
  • 29 Beds
  • 20 Baths
  • 12,760 Sq.Ft.
For Sale
$5,750,000 Get Pre-Qualified
Map preview of 4117 E 7Th St, Long Beach, CA 90804

Property Overview: 4117 E 7Th St Long Beach, CA has 29 bedrooms, 20 bathrooms, 12,760 living square feet and 11,901 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 4117 East 7th Street is a 20-unit apartment building with four brand new ADU’s in Long Beach, California. This asset boasts a great location in the desirable Belmont Heights neighborhood within easy walking distance of Recreation Park and Colorado Lagoon and proximate to Cal State Long Beach and Belmont Shore. 4117 East 7th Street is a well-maintained 1962 construction with a mix of nine two-bedroom/one-bath and 11 one-bedroom/one-bath units, ample tuck-under parking, and income-generating on-site laundry. Four of the one-bedrooms are newly completed ADU’s anticipated to achieve monthly rents of $2,195. Current rents offer a new investor 19 percent potential upside, and this property’s excellent location in an area with a strong tenant base make it a great acquisition opportunity. This asset is offered as part of a portfolio of Long Beach apartment buildings that range from eight to 52 units. Properties available separately or together.

Listed by Steven Bogoyevac | BRE #01332755 | Steven M. Bogoyevac, Broker
Last checked: 14 minutes ago | Last updated: January 31st, 2024 | Source CRMLS | DOM: 119
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Home details

Lot Sq. Ft
11,901
HOA Dues
$0/mo
Year built
1962
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
PW23224426
City
Long Beach
County
Los Angeles
Time on Site
137 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 20
  • Total # of Buildings: 1
  • # of Electric Meters: 20
  • # of Gas Meters: 20
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 9
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,943
  • Total Rent: $17,487
  • Pro Forma/Market Rent: $21,870
Unit Breakdown 2
  • # of Units: 11
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,747
  • Total Rent: $19,216
  • Pro Forma/Market Rent: $1,975
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $440,435
  • Net Operating Income: $270,967
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $158,521
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Open Houses for 4117 E 7Th St

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Property Details for 4117 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: Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 20
  • Parcel Number: 7254021032
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Eastside (ES)
  • Directions: Between Belmont and Roswell
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Long Beach Agent

Sale History for 4117 E 7Th St

Last sold for $5,400,000 on July 29th, 2022

  • December, 2023

  • Dec 11, 2023

    Date

    Active

    CRMLS: PW23224426

    $6,000,000

    Price

  • July, 2022

  • Jul 29, 2022

    Date

    Sold

    CRMLS: PW22044782

    $5,400,000

    Price

  • Mar 7, 2022

    Date

    Active

    CRMLS: PW22044782

    $5,495,000

    Price

  • Listing provided courtesy of CRMLS

    4117 East 7th Street is a well-maintained 1962 construction with a mix of nine two-bedroom/one-bath and seven one-bedroom/one-bath units, ample tuck-under parking, and income-generating on-site laundry. This asset boasts a great location in the desirable Belmont Heights neighborhood within easy walking distance of Recreation Park and Colorado Lagoon and proximate to Cal State Long Beach and Belmont Shore. Permitting is nearly complete for four one-bedroom/one-bath ADU’s, which are expected to achieve monthly rents of $1,925 per unit. With these four additional units, pricing looks even more attractive at $274,750 per unit with a market cap rate of 6.58 percent. The current owners are willing to serve as consultants for a new owner throughout the ADU construction process. Further adding to this asset’s potential, current rents offer a new investor 36 percent potential upside.

  • July, 2009

  • Jul 1, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • June, 2005

  • Jun 27, 2005

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 4117 E 7Th St

Assessed Value (2020): $2,856,464
Year Land Value Improved Value Assessed Value
2020 $1,580,447 $1,276,017 $2,856,464

Home Value Compared to the Market

This property vs the competition

4117 E 7Th St is listed 618.75% higher than the median list price for the city of Long Beach which has a median list price of $800,000. The median price per/sqft for Long Beach is $633 and this home is listed at $450.63 per/sqft which puts the price per square foot 28.81% lower than the median price per square foot for the city of Long Beach.

About 4117 E 7Th St

Detailed summary of property

4117 E 7Th St is a mixed use located in Long Beach, CA 90804 and is currently for sale. This mixed use property offers 29 bedrooms, 20 bathrooms, roughly 12,760 living square feet, and sits on an approximately 11,901 square foot lot. 4117 E 7Th St was first listed on ArdentRealEstateGroup.com on December 11, 2023. The homeowner is currently asking $5,750,000 and was originally asking $6,000,000. The median priced home in Long Beach is $800,000 with a median price per square foot of $633. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 618.75% higher than the median priced home. Local competing homes currently for sale include 2658 Santa Ana Ave, 2649 Marengo St and 1210 Magnolia Ave. While the average home in Long Beach, CA is selling in 56 days, 4117 E 7Th St has a days on market of 119 days. There are currently 570 homes for sale in the Long Beach real estate market and 325 of them are single family homes while 233 of them are condos and 12 are townhomes. For more information on this home for sale at 4117 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 4117 E 7Th St

Public county record property details
Beds
--
Baths
16
Year built
1962
Sq. Ft.
10,925
Lot Size
11,901
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
3
APN
7254-021-032

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
$519,000
Median List Price/Sq.Ft.
$612
Median Sold Price
$642,000
Median Sold Price/Sq.Ft.
$584
Total Inventory
41
Median Sale to List Price %
95.82%
Avg Days on Market
25
Loan Type
Conventional (83.33%), FHA (0%), VA (0%), Cash (0%), Other (16.67%)

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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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