1242 E 7th St Long Beach, CA 90813
North Alamitos Beach NeighborhoodEstimated payment $8,600/month
Highlights
- Golf Course Community
- 0.18 Acre Lot
- Cooling System Mounted To A Wall/Window
- Long Beach Polytechnic High School Rated A
- Hiking Trails
- Park
About This Home
Presenting 1242 E. 7th Street, Long Beach, a 3-unit multifamily property with a non-conforming bonus unit offering four income streams in one of Long Beach's most walkable and desirable coastal-adjacent neighborhoods, located less than one mile from Alamitos Beach. The true headline here is the development upside: the property sits on a generous 8,022 SF lot zoned CNR, a flexible bonus-density designation that supports a higher-density mix of residential uses than standard zoning, with access to Long Beach's Enhanced Density Bonus program and significant ADU expansion potential via SB 1211, California's most aggressive multi-family ADU law, which allows one detached ADU for every primary unit on site. For ADU enthusiasts, this lot is a dream come true. The lot size, zoning, and garage footprint check every box for maximizing ADU potential under current California law, making this one of the most ADU-friendly opportunities to hit the Long Beach market. The five detached garages and private laundry room, newly constructed in 2003, further add to the long-term redevelopment potential and additional income opportunities. Combined, these tools create a credible path to dramatically increasing the unit count and long-term asset value. Built in 1911, the property retains its original Craftsman-era character, underwent a full electrical rewire in 2003, and has seen interior upgrades across the units over the years. With a Walk Score of 92 and Bike Score of 90, residents enjoy effortless access to Alamitos Beach, Belmont Shore, Retro Row, and Downtown Long Beach, all just minutes away.
Listing Agent
Younglewin Advisors, Inc. Brokerage Phone: 562-266-7629 License #02081392 Listed on: 03/25/2026
Co-Listing Agent
Younglewin Advisors, Inc. Brokerage Phone: 562-266-7629 License #01963090
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $17,976
Year Built
- Built in 1911
Lot Details
- 8,022 Sq Ft Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Parking
- 5 Open Parking Spaces
- 5 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 2,875 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 6 Bathrooms
Utilities
- Cooling System Mounted To A Wall/Window
Listing and Financial Details
- Legal Lot and Block 3 / 1
- Assessor Parcel Number 7266012003
- $844 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- 2 Buildings
- 4 Units
Amenities
- Laundry Facilities
Recreation
- Golf Course Community
- Park
- Dog Park
- Hiking Trails
- Bike Trail
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,200
- Insurance Expense $3,594
- Maintenance Expense $2,600
- Other Expense $4,800
- Professional Management Expense $6,237
- Supplies Expense $1,000
- New Taxes Expense $17,976
- Operating Expense $37,407
- Gross Income $124,740
- Net Operating Income $83,591
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| 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 |
|---|---|---|---|---|
| 2025 | $18,760 | $1,477,368 | $962,370 | $514,998 |
| 2024 | $18,760 | $1,448,400 | $943,500 | $504,900 |
| 2023 | $18,449 | $1,420,000 | $925,000 | $495,000 |
| 2022 | $10,636 | $830,429 | $578,147 | $252,282 |
| 2021 | $10,420 | $814,147 | $566,811 | $247,336 |
| 2019 | $6,502 | $478,484 | $259,663 | $218,821 |
| 2018 | $6,218 | $469,107 | $254,572 | $214,535 |
| 2016 | $5,715 | $450,682 | $244,688 | $205,994 |
| 2015 | $5,492 | $443,913 | $241,013 | $202,900 |
| 2014 | $5,467 | $435,218 | $236,292 | $198,926 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/25/2026 03/25/26 | For Sale | $1,350,000 | -4.9% | $470 / Sq Ft | |
| 10/25/2022 10/25/22 | Sold | $1,420,000 | -5.0% | $494 / Sq Ft | View Prior Sale |
| 09/02/2022 09/02/22 | Pending | -- | -- | -- | |
| 07/14/2022 07/14/22 | For Sale | $1,495,000 | +89.2% | $520 / Sq Ft | |
| 01/03/2019 01/03/19 | Sold | $790,000 | 0.0% | $275 / Sq Ft | View Prior Sale |
| 09/30/2018 09/30/18 | Pending | -- | -- | -- | |
| 09/26/2018 09/26/18 | Off Market | $790,000 | -- | -- | |
| 08/08/2018 08/08/18 | For Sale | $799,000 | -- | $278 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,420,000 | Fidelity National Title | |
| Grant Deed | $790,000 | Western Resources Title Comp | |
| Interfamily Deed Transfer | -- | Stewart | |
| Grant Deed | $485,000 | Stewart | |
| Grant Deed | $330,000 | United Title | |
| Trustee Deed | $226,100 | Fidelity National Title | |
| Grant Deed | $140,500 | North American Title Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $925,000 | New Conventional | |
| Previous Owner | $592,500 | New Conventional | |
| Previous Owner | $389,500 | Purchase Money Mortgage | |
| Previous Owner | $296,670 | Purchase Money Mortgage | |
| Previous Owner | $138,037 | FHA |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW26065037
APN: 7266-012-003
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.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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
- 1237 E 6th St Unit 106
- 646 Nebraska Ave
- 550 Orange Ave Unit 229
- 550 Orange Ave Unit 234
- 1443 E 7th St
- 751 Cerritos Ave
- 1060 E 6th St
- 1612 E 7th St
- 408 Orange Ave
- 744 Walnut Ave
- 1438 E 9th St Unit 2
- 1050 E Hellman St
- 1626 E 6th St
- 1427 E 4th St
- 420 Cerritos Ave
- 1048 E 5th St
- 485 Gaviota Ave
- 1545 E 4th St
- 1168 E 10th St Unit 213B
- 350 Tile Ave
- 698 Orange Ave
- 616 Orange Ave
- 731-745 Orange Ave
- 1438 E 8th St Unit Charming 2 bedroom
- 1436 E 8th St Unit B
- 459 Orange Ave
- 854 Orange Ave
- 437 Walnut Ave
- 437 Walnut Ave
- 1637 E 5th St Unit 204
- 485 Gaviota Ave
- 415 Walnut Ave
- 1728-1730 E 7th St
- 1045 E 4th St Unit 12
- 768 Gaviota Ave
- 507 Rose Ave
- 839 Gaviota Ave
- 839 Gaviota Ave
- 1155-1159 E 10th St
- 744 Rose Ave
Ask me questions while you tour the home.