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Listed by Shane Young • Younglewin Advisors, Inc.
$1,325,000
Est. payment /mo
4,422 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 4,422 sqft
Price per Sqft $299
MLS Listing ID PW-26171200
Year Built 1923
Lot Size 6,060 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
We are pleased to present an exceptional Rose Park Multi-Family Investment Opportunity located in the highly desirable Rose Park neighborhood of Long Beach - 2123 E. 7th Street. Centrally located just blocks from the Pacific Ocean and the vibrant 4th Street dining and retail corridor, the property sits directly across the street from the renowned, Michelin-starred Heritage restaurant and newly developed $1 million condominiums. The expansive 6,058-square-foot oversized lot features three separate structures, comprising a large fourplex alongside two detached units. The asset offers a highly favorable unit mix consisting of four 2-bedroom/1-bathroom units and two 1-bedroom/1-bathroom units. Investors will benefit from major turnkey upgrades, including a new roof installed in 2020 and fully completed SB721 balcony compliance work. The property provides significant upside potential with straightforward value-add opportunities, including a potential garage conversion to an Accessory Dwelling Unit (ADU) and/or the addition of units built above the garages. Parking accommodations are also easily managed, featuring two single-car garages alongside convenient surface parking for tenants.
*Property is located in an Opportunity Zone, which can provide preferential tax treatment for a buyer if they have capital gains to place.
**2bedroom units are functionally two bedrooms and show as 1bedrooms on the tax roll. Buyer to verify.
*Property is located in an Opportunity Zone, which can provide preferential tax treatment for a buyer if they have capital gains to place.
**2bedroom units are functionally two bedrooms and show as 1bedrooms on the tax roll. Buyer to verify.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Laundry None
Exterior
Garage Spaces 2.0
Pool None
Community Features Biking, Curbs, Dog Park, Golf, Park, Sidewalks, Storm Drains, Street Lights, Watersports
Building
Lot Description Corner Lot, Near Public Transit, Rectangular Lot, Yard
Sewer Public Sewer
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Nearby Locations
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900