3822 E 7th Street,Long Beach, CA 90804
Long Beach, CA 90804
Description
We are pleased to present 3822 E. 7th Street, a well-maintained 5-unit multifamily investment opportunity located in the Belmont Heights submarket of Long Beach. This 5,014 SF lot benefits from extremely efficient lot coverage as it features (2) separate structures, a large central courtyard, and a communal outdoor barbeque area in the rear. The front structure consists of (4) 1 Bed/1 Bath units. These spacious, nearly identical units span approximately 750 square feet each and showcase the classic character and charm associated with vintage Belmont Heights apartments. The rear structure features (1) fully remodeled 2 Bed/1 Bath unit upstairs with approximately 950 SF of living area, which includes a master bedroom and walk in closet. Downstairs, there are (3) garages (one of which is currently being used for owner storage), and an on-site laundry room with leased units. Overall, the property has been meticulously maintained by ownership and features copper plumbing throughout with a consistently maintained main sewer line, exceptional unit interiors, and a recently inspected roof found to be in excellent condition. Priced at a 5.43% CAP rate and 12.06 GRM on current in-place income, with upside to an achievable 7.93% Market CAP rate and 9.16 Market GRM, this offering provides investors with strong day-one cash flow with compelling value-add components on multiple fronts. First, the 33% rent upside is compounded by the building’s extremely efficient expense profile as owner-paid utility expenses have historically remained very low. Further, the prudent investor can increase NOI by transitioning to owner-operated laundry equipment and monetizing the garage currently used for owner storage. In addition, the configuration of the rear structure offers significant ADU appeal (buyer to verify). Lastly, this Belmont Heights location boasts a Walk Score of 92 (Walker’s Paradise) and is located near excellent schools, including Woodrow Wilson High School a mere half mile away. In addition, the property’s proximity to the Traffic Circle provides convenient access to the major economic and employment hubs of Los Angeles and Orange counties, supporting consistent tenant demand in this strong infill location
Details
| MLS # | SB26163180 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1924 |
| Days On Site | 44 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | Joshua Barut |
Features
| SQ Feet | 3,946 |
|---|---|
| Garage | 3 |
| Story(s) | 2 |
| Units | 5 |
| Building(s) | 2 |
| Acreage | 0.12 |
| Golf Course | Yes |
| Property View | None |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Built In Features, Ceiling Fans, Crown Molding, High Ceilings, Bedroom On Main Level, Main Level Primary, Walk In Closets |
| Window Features | Blinds, Screens |
| Appliances | Gas Cooktop, Gas Oven, Microwave, Refrigerator, Water Heater |
| Fireplace Yes / No | No |
Exterior
| Exterior Features | Lighting |
|---|---|
| Roof | Flat |
| Security Features | Security Lights |
| Construction Materials | Copper Plumbing |
| Foundation Details | Raised |
| Lot Features | Zero To One Unit Acre, Back Yard |
Parking
| Parking Features | Door Single, Garage |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Golf, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 2 Belmont Heights | Alamitos Heights |
| Community Name | Belmont Heights (BH) |
| Listing VS Median (in Belmont Heights (BH)) | |
Price: $1,475,000 low | high Med: $1,995,000 sqft: 3,946 low | high Med: 5,554 $ / sqft: $374 low | high Med: $359 On site: 44 low | high Med: 132 | |
Market Activity 90804
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 2 Belmont Heights | Alamitos Heights |
| Community Name | Belmont Heights (BH) |
| Listing VS Median (in Belmont Heights (BH)) | |
Price: $1,475,000 low | high Med: $1,995,000 sqft: 3,946 low | high Med: 5,554 $ / sqft: $374 low | high Med: $359 On site: 44 low | high Med: 132 | |
 | $1,649,000817 Mira MarLong Beach, CA 90804 |
 | $1,425,000906 TerminoLong Beach, CA 90804 |