1089 E 7th ST, Long Beach, CA 90813
$1,399,900
Est. payment /mo
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6 Beds
4 Baths
3,020 SqFt
Coming Soon

1089 E 7th ST Long Beach, CA 90813

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Vanessa Sims-Gil

Vanessa Sims-Gil

+1(619) 818-9563

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Coming Soon

Purchase Type For Sale

Square Footage 3,020 sqft

Price per Sqft $463

Subdivision The Coughran Tract

MLS Listing ID 26870317

Bedrooms 6

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1922

Lot Size 2,591 Sqft

Property Description

50% VACANT LONG BEACH FOURPLEX! Exceptional opportunity for an investor or owner-user at 1089 E. 7th Street. This approximately 3,020 SF quadruplex features two 2BR/1BA and two 1BR/1BA units, with two units currently vacant, providing immediate flexibility to renovate, reposition, and establish new rental income. Existing occupied rents are $2,300 for a 2BR and $1,700 for a 1BR. Applying those existing rents to the comparable vacant unit types indicates approximately $96,000 in annual stabilized gross scheduled income before consideration of additional market-rent upside. Located along Long Beach's historic 7th Street corridor within the original Coughran Tract. Offered at $1,399,900, approximately $349,975/unit. A compelling opportunity to acquire a fourplex where the buyer can immediately control 50% of the units while benefiting from existing income. Buyer to Cooperate with a 1031 Exchange.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBCO

Interior

Heating Natural Gas

Cooling None

Fireplace No

Exterior

Parking Features On Street

Utilities Available Overhead Utilities

View Y/N No

View None

Roof Type Composition

Building

Lot Description Corners Marked, Rectangular Lot

Faces South

Story 2

Entry Level Two

Foundation Raised

Sewer Other

Architectural Style Traditional

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 7266005024

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Subject To Other, Submit

Listing Terms Subject To Other, Submit

Financing Cash,Contract

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Kory Jackson eXp Realty of California Inc #01315324

NEARBY SCHOOL & BUSINESS

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Vanessa Sims-Gil

Vanessa Sims-Gil

Agent | License ID: 02140190

+1(619) 818-9563

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1089 E 7th ST