NOT LISTED FOR SALE

1308 E 7th St Long Beach, CA 90813

North Alamitos Beach Neighborhood
3 Beds
2 Baths
5,920 Sq Ft
8,712 Sq Ft Lot

Last Sold June 09, 2017

Last sale price $1,800,000 $304 Per Sq Ft

104 Days on Market

About This Home

As of June 2017

The offering comprises a front building with eight one-bedroom/one-bath units and a rear duplex with one one-bedroom/one-bath and one two-bedroom/one-bath unit. The units have been renovated and are in great condition; recent upgrades include new kitchen cabinetry, fixtures and countertops, wall heaters, new carpet, tile, and interior and exterior paint. Additionally, the electrical has been updated and the roof was resurfaced in 2004. The property also features on-site parking with storage and income-generating on-site laundry.

As a turnkey asset with strong cash flow on current rents and additional potential upside, 1308 East 7th Street is a great investment opportunity.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 12/12/2016

Co-Listed By

Shane young

Younglewin Advisors, Inc. License #01963090

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 8,712 Sq Ft Lot
  • No Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 5 Car Garage

Home Design

  • 5,920 Sq Ft Home

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 002
  • Tax Tract Number 12
  • Assessor Parcel Number 7266012002

Community Details

Overview

  • 2 Buildings
  • 10 Units

Building Details

  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • Operating Expense $46,269
  • Net Operating Income $94,401

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Parking

5

Listing Details

  • CapRate: 5.24
  • Property Attached: No
  • Subdivision Name Other: North Alamitos Beach
  • Zoning: LBCNR
  • Property Type: Residential Income
  • Parcel Number: 7266012002
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 304.05

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 8712.00

Multi Family

  • Gross Scheduled Income: 145020.00
  • Net Operating Income: 94401.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Units Total: 10
  • Operating Expense: 46269.00
  • Rent Control: No
  • Total Expenses: 46269.00

Tax Info

  • Tax Census Tract: 5765.02
  • Tax Lot: 002
  • Tax Tract Number: 012

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/09/2017 06/09/17 Sold $1,800,000 0.0% $304 / Sq Ft
03/26/2017 03/26/17 Pending -- -- --
12/12/2016 12/12/16 For Sale $1,800,000 -- $304 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2017

    Steve Bogoyevac

    Steven M. Bogoyevac, Broker

    (562) 257-1231

    89 Total Sales

    Steve Bogoyevac
    Section Image
  • Shane young

    Seller Co-Listing Agent in 2017

    Shane young

    Younglewin Advisors, Inc.

    (562) 556-1118

    31 Total Sales

    Shane young
    Section Image

  • N

    Buyer's Agent in 2017

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    3 in this area

    6,193 Total Sales

    NoEmail NoEmail
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16761662

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 North Alamitos Beach

1308 E 7th St, Long Beach, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) 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

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