Long Beach, CA 90804 2521 E 7th Street

2521 E 7th Street Long Beach, CA - Image 12521 E 7th Street Long Beach, CA - Image 22521 E 7th Street Long Beach, CA - Image 3
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Presented By: Rick Applebaum with Morgan Skenderian; rma@morganskenderian.com
  • California Regional MLS (CRMLS) - 25 - CA
  • MLS# PW24222928
  • 10/28/2024
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Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
  • Beds • 24
  • Baths • 10
  • SQFT • 9,358
  • Garage • 5

Home Details

Introducing an exceptional investment opportunity in Long Beach, CA. This impressive property boasts a 9,358 SF building with 10 well-appointed units offering a mix of 1, 2 & 3-bedroom layouts, appealing to a range of tenants. Built in 1963, the property features newer windows, electrical panels, and railings, enhancing its appeal to savvy investors. With a price of $232.42 and $217,500 per unit, this offering presents an attractive value proposition. Additionally, the property promises a lucrative added value opportunity, with a projected ±85% in rental upside, making it an enticing option for long-term ownership. The motivated sellers further enhance the appeal of this promising investment prospect.
Presented By: Rick Applebaum with Morgan Skenderian; rma@morganskenderian.com

Interior Features for 2521 E 7th Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2

Other Rooms

Entry Level1

General for 2521 E 7th Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.0
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, Gutters, Sidewalks
CountyLos Angeles
DirectionsSouth of 8th Street and West of Molino Ave.
Electric Expense2653.0
Entry Location1
Fuel Expense2653.0
Garage Spaces5.0
Garage Y/NYes
Gross Income3000.0
HOANo
Home Warranty Y/NNo
Insurance Expense8655.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Conventional
Lot Size Square Feet7322.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
Maintenance Expense8390.0
MobileHomeRemainsYNNo
Net Operating Income108153.0
New ConstructionNo
Number Of Units Total10
Operating Expense59637.0
Pool FeaturesNone
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Annual Amount29101.0
Tax Lot21
Taxes$29,101
Total Actual Rent14165.0
Trash Expense2653.0
Water Sewer Expense2653.0
Year Built1963
Year Built SourceAssessor

Exterior for 2521 E 7th Street

Building Area Total9358.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1681
Lot Size Area7322.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters11
Number of Separate Gas Meters11
Number of Separate Water Meters1
Private PoolNo
SpaNo
Total Parking5.0
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Hal Schlegel

Broker Associate
Price $2,175,000
MLS#PW24222928
List Date 10/28/2024
Property Type Multi-Family
Phone 714.742.6515
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