NOT LISTED FOR SALE

4117 E 7th St Long Beach, CA 90804

Recreation Park Neighborhood
3 Beds
2 Baths
10,925 Sq Ft
0.27 Acres

Last Sold July 29, 2022

Last sale price $5,400,000 $494 Per Sq Ft

28 Days on Market

Highlights

  • 0.27 Acre Lot
  • Fremont Elementary School Rated A
  • Laundry Room

About This Home

As of July 2022

4117 East 7th Street is a well-maintained 1962 construction with a mix of nine two-bedroom/one-bath and seven one-bedroom/one-bath units, ample tuck-under parking, and income-generating on-site laundry. This asset boasts a great location in the desirable Belmont Heights neighborhood within easy walking distance of Recreation Park and Colorado Lagoon and proximate to Cal State Long Beach and Belmont Shore. Permitting is nearly complete for four one-bedroom/one-bath ADU’s, which are expected to achieve monthly rents of $1,925 per unit. With these four additional units, pricing looks even more attractive at $274,750 per unit with a market cap rate of 6.58 percent. The current owners are willing to serve as consultants for a new owner throughout the ADU construction process. Further adding to this asset’s potential, current rents offer a new investor 36 percent potential upside.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 03/07/2022

Last Buyer's Agent

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 03/07/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 0.27 Acre Lot
  • No Common Walls

Parking

  • 8 Car Garage

Interior Spaces

  • 10,925 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 3
  • Assessor Parcel Number 7254021032
  • $2,187 per year additional tax assessments

Community Details

Overview

  • 16 Units
  • Belmont Heights Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 16 Separate Electric Meters
  • 16 Separate Gas Meters
  • Operating Expense $118,272
  • Gross Income $300,840
  • Net Operating Income $175,112

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

8

Listing Details

  • Price Per Unit: 343438
  • Property Attached: No
  • Subdivision Name Other: Belmont Heights (BH)
  • Zoning: LBCCA
  • Property Type: Residential Income
  • Parcel Number: 7254021032
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 494.28

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 8.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 11901.00
  • Lot Size Acres: 0.2732

Multi Family

  • Gross Income: 300840.00
  • Gross Scheduled Income: 300840.00
  • Lot Size Area: 11901.0000 Square Feet
  • Net Operating Income: 175112.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Units Total: 16
  • Operating Expense: 118272.00
  • Rent Control: Yes
  • Total Expenses: 118272.00

Tax Info

  • Tax Census Tract: 5770.00
  • Tax Lot: 3
  • TaxOtherAnnualAssessmentAmount: 2186.91

Range of Values:

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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 Change Sq Ft Price
07/29/2022 07/29/22 Sold $5,400,000 -1.7% $494 / Sq Ft
04/04/2022 04/04/22 Pending -- -- --
03/07/2022 03/07/22 For Sale $5,495,000 -- $503 / 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 2022

    Steve Bogoyevac

    Steven M. Bogoyevac, Broker

    (562) 257-1231

    3 in this area

    91 Total Sales

    Steve Bogoyevac
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22044782

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90804 Recreation Park

4117 E 7th St, Long Beach, CA

This home is located at 4117 E 7th St, Long Beach, CA 90804 since 07 March 2022. This property was built in 1962. 4117 E 7th St is a home located in Los Angeles County with nearby schools including Fremont Elementary School, Woodrow Wilson High School, and Maple Village Waldorf School.

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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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