401 E 7th Street, Long Beach, CA 90813

About this property

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.

Listing description from the November 2021 sale, as reported to CRMLS.

Sale history

$1,140,000

Sold November 2021 · listed $1,095,000, on market September 2021 · MLS #SB21195702 · Source: CRMLS

Listing Agent: Anthony Walker · Listing Office: Buckingham Investments, Inc · Contact: 310 982-7055 · Bought with: Vincent Cook · Alden Pacific Investments, Inc.

$640,000

Sold June 2015 · listed $639,900, on market April 2015 · MLS #PW15074654 · Source: CRMLS

Listing Agent: Spencer Pabst · Listing Office: Pabst, Kinney & Associates · Contact: 562-987-3244 · Bought with: Anthony Walker · Buckingham Investments, Inc.

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