1089 E 7th Street,Long Beach, CA 90813
Long Beach, CA 90813
Description
STRONG LONG BEACH MULTIFAMILY INVESTMENT & PORTFOLIO OPPORTUNITY! Offered at $1,399,900, 1089 E. 7th Street presents investors with an opportunity to acquire an income-producing Long Beach multifamily asset generating approximately $8,000 PER MONTH / $96,000 IN ANNUAL GROSS RENT. With approximately $27,465 in annual operating expenses, the property generates an estimated NET OPERATING INCOME (NOI) OF $68,535, representing an approximate 4.90% CAP RATE at the offered price. The property also reflects an approximate 14.58 GRM, providing investors with an attractive combination of existing income, cash flow, and long-term ownership potential in the Long Beach rental market. Unlike opportunities that depend primarily upon future projections, 1089 E. 7th Street offers substantial EXISTING RENTAL INCOME from day one. The property's income profile makes it well suited for a long-term multifamily investor, portfolio buyer, or 1031 Exchange purchaser seeking replacement property with established cash flow. Located in Long Beach, the property provides access to one of Southern California's established rental markets and offers investors the opportunity to acquire a multifamily asset with approximately $96,000 in annual gross rental income while maintaining the potential for future rent growth, operational improvements, and long-term appreciation. PORTFOLIO OPPORTUNITY: 1089 E. 7th Street is being offered as part of a portfolio sale together with 117 W. 9th Street. The properties offer complementary investment strategies: 1089 E. 7th Street provides high existing income, and 117 W. 9th Street offers two vacant 2-bedroom units with owner-user and value-add potential. Contact listing agent for portfolio details and terms.1031 EXCHANGE: Seller intends to complete an IRC Section 1031 Tax-Deferred Exchange. Buyer to cooperate with Seller's 1031 Exchange at no cost or liability to Buyer; also to independently verify all rents, expenses, income, vacancies, market rents, square footage, unit configuration, permits, zoning, financial information, and all other property information.
Details
| MLS # | 26870317 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1922 |
| Days On Site | 26 |
| Listing Provided By | eXp Realty of California Inc | Kory Jackson |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 3,020 |
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 2 |
| Zoning | LBCO |
| Acreage | 0.06 |
| Property View | None |
Interior
| Cooling | None |
|---|---|
| Heating | Natural Gas |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
Exterior
| Roof | Composition |
|---|---|
| Security Features | Carbon Monoxide Detectors, Smoke Detectors |
| Construction Materials | Stucco |
| Foundation Details | Raised |
| Lot Features | Corners Marked, Rectangular Lot |
Parking
| Parking Features | On Street |
|---|
Utilities
| Utilities | Overhead Utilities |
|---|---|
| Sewer | Other |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | The Coughran Tract |
| Listing VS Median (in The Coughran Tract) | |
Price: $1,399,900 low | high Med: $1,399,900 sqft: 3,020 low | high Med: 3,020 $ / sqft: $464 low | high Med: $464 On site: 26 low | high Med: 26 | |
Market Activity 90813
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | The Coughran Tract |
| Listing VS Median (in The Coughran Tract) | |
Price: $1,399,900 low | high Med: $1,399,900 sqft: 3,020 low | high Med: 3,020 $ / sqft: $464 low | high Med: $464 On site: 26 low | high Med: 26 | |
 | $1,150,0001242 E 7th StLong Beach, CA 90813 |