1089 E 7th Street, Long Beach, CA 90813
- $1,399,900
- 6
- BD
- 4
- BA
- 3,020
- SqFt
- List Price
- $1,399,900
- Status
- COMING SOON
- MLS#
- 26870317
- Year Built
- 1922
- Bedrooms
- 6
- Bathrooms
- 4
- Living Sq. Ft
- 3,020
- Lot Size
- 2,592
- Acres
- 0.06
- Lot Location
- Corners Marked, Rectangular Lot
- Days on Market
- 1
- Property Type
- Multifamily
- Style
- Traditional
- Stories
- Two Levels
- Neighborhood
- The Coughran Tract
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.
Additional Information
- Heat
- Natural Gas
- Cooling Description
- None
- View
- None
- Exterior Construction
- Stucco
- Roof
- Composition
- Sewer
- Other
- Attached Structure
- Attached
- Number Of Units Total
- 4
Listing courtesy of Listing Agent: Kory Jackson (KoryJackson@gmail.com) from Listing Office: eXp Realty of California Inc.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.