Price reduced over $100,000! Motivated seller! Located at 1242 E 7th St., Long Beach, CA, this beautiful turnkey 4-unit Craftsman property offers a prime investment or owner-user opportunity in a vibrant, centrally located North Alamitos Beach neighborhood. The property sits on a 8,000 sq. ft. lot and features a 2,875 sq. ft. building, delivering a mix of spacious and stylishly remodeled units. The property includes one three-bedroom unit (~ 775 sq. ft.), two two-bedroom units (~750 sq. ft.), and one one-bedroom unit (~ 600 sq. ft.). Each unit has been completely remodeled, featuring modern interiors, updated kitchens and baths, and premium finishes, making this property a true turnkey investment.This property offers significant value-add potential. The lot includes five garages, presenting an ideal opportunity for Accessory Dwelling Unit (ADU) conversion to maximize rental income. Additionally, the large lot size and layout provide ample space to build additional units. Other highlights include a long driveway and ample parking, a rare and desirable feature in urban multifamily properties. This makes the property particularly attractive to tenants and ensures strong occupancy rates.For those considering living on-site, one unit is currently vacant, offering the perfect owner-user opportunity to live in one unit while collecting income from the others. Alternatively, the vacancy allows for immediate leasing at market rent, boosting cash flow. With its modernized interiors, potential for expansion, and prime location near downtown Long Beach, this property is an excellent opportunity for investors and owner-users alike. Don’t miss out on this rare combination of current income and future upside. 4th Unit approval eminent.
|
DAYS ON MARKET
|
88
|
LAST UPDATED
|
3/18/2025
|
|
TRACT
|
Alamitos Beach (AB)
|
YEAR BUILT
|
1911
|
|
COMMUNITY
|
Downtown Area, Alamitos Beach
|
GARAGE SPACES
|
5.0
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Mar 18, '25
|
$1,800,000
|
| Mar 18, '25 - Today |
$1,690,000 |
| AREA |
Downtown Area, Alamitos Beach |
| GARAGE |
Yes |
| LOT |
8022 sq ft |
| LOT DESCRIPTION |
Back Yard, Level, Near Public Transit, Rectangular Lot |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| SUBDIVISION |
Alamitos Beach (AB) |
| WATER |
Public |
| ZONING |
LBCNR |
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Listed with Keller Williams Coastal Prop.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/18/25 11:40 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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