REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Nicole Van Parys & Gary Nesen
Engel & Völkers Americas
nicole.vanparys@engelvoelkers.com +1(805) 795-1880Listed by Stelios Zoumberakis • Keller Williams Coastal Prop.
$ 1,690,000
Est. payment /mo
Price Dropped by $110K
1242 East 7th Street Long Beach, CA 90813
2,875 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,875 sqft
Price per Sqft $587
Subdivision Alamitos Beach
MLS Listing ID PW-25014615
Year Built 1911
Lot Size 8,022 Sqft
Property Sub-Type Quadruplex
Property Description
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.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBCNR
Interior
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 5.0
Pool None
Community Features Curbs, Dog Park, Golf, Gutters, Hiking, Park, Sidewalks, Street Lights, Suburban
Building
Lot Description Level, Near Public Transit, Rectangular Lot, Back Yard
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944