1089 E 7th St Long Beach, CA 90813
Hellman NeighborhoodEstimated payment $8,491/month
Highlights
- Traditional Architecture
- Corner Lot
- 3-minute walk to Gumbiner Park
- Long Beach Polytechnic High School Rated A
- South Facing Home
About This Home
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.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1922 | Remodeled
Lot Details
- 2,592 Sq Ft Lot
- South Facing Home
- Corner Lot
- Rectangular Lot
- Level Lot
- Corners Of The Lot Have Been Marked
Parking
- On-Street Parking
Home Design
- Traditional Architecture
- Raised Foundation
- Composition Roof
- Stucco
Interior Spaces
- 3,020 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Utilities
- Heating System Uses Natural Gas
- Overhead Utilities
- Property is located within a water district
- Gas Water Heater
- Sewer in Street
Listing and Financial Details
- The owner pays for water, gardener
- Assessor Parcel Number 7266-005-024
Community Details
Overview
- 2 Buildings
- 4 Units
Building Details
- Rent Control
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $9,200 | $671,205 | $473,516 | $197,689 |
| 2025 | $9,200 | $658,045 | $464,232 | $193,813 |
| 2024 | $8,790 | $645,143 | $455,130 | $190,013 |
| 2023 | $8,637 | $632,494 | $446,206 | $186,288 |
| 2022 | $8,116 | $620,093 | $437,457 | $182,636 |
| 2021 | $7,939 | $607,935 | $428,880 | $179,055 |
| 2019 | $7,825 | $589,906 | $416,160 | $173,746 |
| 2018 | $7,611 | $578,340 | $408,000 | $170,340 |
| 2016 | $6,818 | $540,462 | $324,278 | $216,184 |
| 2015 | $6,551 | $532,345 | $319,408 | $212,937 |
| 2014 | $6,519 | $521,918 | $313,152 | $208,766 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/01/2026 09/01/26 | For Sale | $1,399,900 | +146.9% | $464 / Sq Ft | |
| 09/30/2016 09/30/16 | Sold | $567,000 | -5.5% | $188 / Sq Ft | View Prior Sale |
| 08/02/2016 08/02/16 | Pending | -- | -- | -- | |
| 07/22/2016 07/22/16 | Price Changed | $599,900 | -22.6% | $199 / Sq Ft | |
| 06/20/2016 06/20/16 | For Sale | $775,000 | -- | $257 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | -- | None Listed On Document | |
| Interfamily Deed Transfer | -- | Chicago Title Company | |
| Grant Deed | $567,000 | Chicago Title Company | |
| Interfamily Deed Transfer | -- | None Available | |
| Quit Claim Deed | -- | Investors Title Company | |
| Grant Deed | $450,000 | Investors Title Company | |
| Grant Deed | $300,000 | First Southwestern Title Co | |
| Corporate Deed | -- | Landsafe Title | |
| Trustee Deed | $285,063 | Landsafe Title | |
| Gift Deed | -- | -- | |
| Grant Deed | $280,000 | Fidelity National Title Co | |
| Quit Claim Deed | -- | -- | |
| Grant Deed | $127,000 | Chicago Title Co |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $748,000 | New Conventional | |
| Previous Owner | $737,750 | New Conventional | |
| Previous Owner | $707,000 | New Conventional | |
| Previous Owner | $697,500 | Adjustable Rate Mortgage/ARM | |
| Previous Owner | $567,000 | New Conventional | |
| Previous Owner | $453,600 | New Conventional | |
| Previous Owner | $367,300 | New Conventional | |
| Previous Owner | $420,000 | Unknown | |
| Previous Owner | $315,000 | Purchase Money Mortgage | |
| Previous Owner | $240,000 | No Value Available |
Source: The MLS
MLS Number: 26870317
APN: 7266-005-024
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
© 2026 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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