S
Seller's Agent in 2022
Steve Bogoyevac
Steven M. Bogoyevac, Broker
(562) 257-1231
3 in this area
86 Total Sales
4117 E 7th St Long Beach, CA 90804
Recreation Park Neighborhood
3
Beds
2
Baths
10,925
Sq Ft
0.27
Acres
Highlights
- 0.27 Acre Lot
- Fremont Elementary School Rated A
- Laundry Room
About This Home
As of July 20224117 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
Steven M. Bogoyevac, Broker License #01332755 Listed on: 03/07/2022
Last Buyer's Agent
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
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 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
| 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 | $71,898 | $5,000,000 | $3,200,000 | $1,800,000 |
| 2024 | $71,898 | $5,508,000 | $3,468,000 | $2,040,000 |
| 2023 | $70,671 | $5,400,000 | $3,400,000 | $2,000,000 |
| 2022 | $56,631 | $4,480,000 | $3,000,000 | $1,480,000 |
| 2021 | $37,106 | $2,884,581 | $1,596,820 | $1,287,761 |
| 2019 | $36,575 | $2,800,484 | $1,549,458 | $1,251,026 |
| 2018 | $35,578 | $2,745,602 | $1,519,077 | $1,226,525 |
| 2016 | $32,725 | $2,637,587 | $1,460,091 | $1,177,496 |
| 2015 | $31,425 | $2,597,969 | $1,438,160 | $1,159,809 |
| 2014 | $31,251 | $2,547,079 | $1,409,989 | $1,137,090 |
Source: Public Records
Agents Affiliated with this Home
-
Steve Bogoyevac
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW22044782
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
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