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Travis Breton

travisbreton@gmail.com +1(760) 470-2752

$ 1,525,000

Est. payment | -/mo

5 Beds

4 Baths

5,014 Sqft Lot

Save

$ 1,525,000

Est. payment | -/mo

Save

5 Beds

4 Baths

5,014 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision Belmont Heights (Bh)

MLS Listing ID SB26163180

Bedrooms 5

Lot Size 5,014 Sqft

Property Sub-Type Res Income 2-4 Units

Property 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 5.21% CAP rate and 12.47 GRM on current in-place income, with upside to an achievable 7.84% Market CAP rate and 9.28 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 buildings extremely efficient expense profile as owner-paid utility expenses have historically remained very low. Further, the prudent investor can increase

Location

State CA

County Los Angeles

Zoning Public Rec

Direction 7th & Termino

Interior

Cooling Wall/Window

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 7254026005

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Joshua Barut, DRE#01971720 Lyon Stahl Investment Real Estate, Inc.

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(760) 470-2752

travisbreton@gmail.com

1902 Wright Place #200, Carlsbad, CA, 92008, USA

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3822 E 7th Street Long Beach, CA 90804