4141 E 7th St Long Beach, CA 90804
Recreation Park Neighborhood
4
Beds
2
Baths
1,121
Sq Ft
2,701
Sq Ft Lot
Highlights
- Furnished
- Neighborhood Views
- Central Heating and Cooling System
- Fremont Elementary School Rated A
- Laundry Room
- Vinyl Flooring
About This Home
As of December 2024This is an opportunity to acquire a high-demand asset in a desirable location with immediate income generation potential. Unlock the potential of this prime mixed-use property in Belmont Heights—an excellent opportunity for savvy investors or owner-users looking for strong value and steady returns. This well-maintained lot offers both commercial and residential spaces, both in turn-key condition and ready to generate income. The front unit, 4141, spans approximately 550 sq. ft. and serves as an office or retail space. With a current rental income of $3,000 per month, there may still be room to increase rent to align with market rates. It features a main room, full bath, kitchen, and two additional rooms, with potential for conversion to residential zoning with minimal modifications. The rear unit, 4147, is a two-bedroom, one-bath single-family home backing up to the quiet Greenbelt Park. This unit has been a highly profitable Airbnb, generating gross rents of approximately $72,000 in 2023—an average of just under $6,000 per month. Together, both units bring in an average of $9,000 per month in rental income, providing an attractive return on investment. The sale price includes not only the property but also all furnishings, appliances, artwork. Additionally, the City's Short-Term Rental (STR) license, a valuable asset, is included in the deal. With separate electric and gas meters for each unit, plus four parking spaces, this property is both flexible and independent for future tenants or owners. Located near Blair Field, Alamitos Heights Park, the beaches, bay and Marine Stadium, this property combines convenience with income potential.
Last Agent to Sell the Property
Pacific Sotheby's Int'l Realty Brokerage Phone: 310-713-4860 License #01476437
Co-Listed By
Pacific Sotheby's Int'l Realty Brokerage Phone: 310-713-4860 License #01024996
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,695
Year Built
- Built in 1958 | Remodeled
Lot Details
- 2,701 Sq Ft Lot
- No Common Walls
- Density is 2-5 Units/Acre
Home Design
- Composition Roof
Interior Spaces
- 1,121 Sq Ft Home
- 1-Story Property
- Furnished
- Vinyl Flooring
- Neighborhood Views
- Laundry Room
Bedrooms and Bathrooms
- 4 Bedrooms
- 2 Bathrooms
Parking
- 5 Parking Spaces
- 5 Carport Spaces
- Parking Available
- Driveway
Additional Features
- Exterior Lighting
- Central Heating and Cooling System
Listing and Financial Details
- Tax Lot 6
- Assessor Parcel Number 7254021035
- $363 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 2 Units
Building Details
- 2 Leased Units
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 2 Separate Water Meters
- Insurance Expense $1,962
- Maintenance Expense $3,000
- Other Expense $2,473
- Professional Management Expense $7,870
- Operating Expense $27,289
- Gross Income $120,000
- Net Operating Income $67,423
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 14, 2024
Closed on
Oct 31, 2024
Sold by
Pilgrims Way Llc
Bought by
Zhou Alicia and Wang Huihui
Seller's Agent
Mary Ryan
Pacific Sotheby's Int'l Realty
Buyer's Agent
Christian Humbert
Coldwell Banker Realty
List Price
$989,000
Sold Price
$970,000
Premium/Discount to List
-$19,000
-1.92%
Total Days on Market
25
Views
30
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$978
Avg. Annual Appreciation
-0.24%
Original Mortgage
$952,430
Interest Rate
6.72%
Mortgage Type
FHA
Purchase Details
Listed on
Sep 15, 2021
Closed on
Feb 2, 2022
Sold by
Anna Ruth Gipson Revocable Trust
Bought by
Pilgrims Way Llc
Seller's Agent
Vinny Jain
Ingenious Asset Group, Inc.
Buyer's Agent
Mark Reavis
Reavis Realty
List Price
$650,000
Sold Price
$645,000
Premium/Discount to List
-$5,000
-0.77%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.05%
Purchase Details
Listed on
Sep 15, 2021
Closed on
Dec 21, 2021
Sold by
Leimert Investment Company
Bought by
Anna Ruth Gipson Revocable Trust
Seller's Agent
Vinny Jain
Ingenious Asset Group, Inc.
Buyer's Agent
Mark Reavis
Reavis Realty
List Price
$650,000
Sold Price
$645,000
Premium/Discount to List
-$5,000
-0.77%
Purchase Details
Listed on
Sep 17, 2010
Closed on
Aug 7, 2012
Sold by
Mai Dung H
Bought by
Leimert Investment Company
Seller's Agent
Gina Nguyen
A A Realty
Buyer's Agent
Guillermo Rodriguez
Guillermo Rodriguez, Broker
List Price
$429,900
Sold Price
$399,900
Premium/Discount to List
-$30,000
-6.98%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.22%
Purchase Details
Closed on
Dec 27, 2010
Sold by
Chapati Group Llc
Bought by
Mai Dung H
Purchase Details
Closed on
Dec 1, 2005
Sold by
Mai Dung
Bought by
Chapati Group Llc
Purchase Details
Closed on
Aug 18, 2005
Sold by
Nguyen Gina
Bought by
Mai Dung H
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$305,000
Interest Rate
5.61%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 7, 2005
Sold by
Ronin Investments Inc
Bought by
Mai Dung
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$305,000
Interest Rate
5.61%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 1, 2003
Sold by
Aragon Luis and Aragon Irene
Bought by
Ronin Investments Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,000
Interest Rate
5.86%
Mortgage Type
Commercial
Purchase Details
Closed on
Sep 17, 2003
Sold by
Kityk Jerry and Estate Of Joyce L Cummings
Bought by
Aragon Luis and Aragon Irene
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$117,500
Interest Rate
6.14%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 24, 1994
Sold by
Mai Tien L H
Bought by
Mai Dung H
Map
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $970,000 | Lawyers Title Company | |
| Quit Claim Deed | -- | Law Office Of Randy Spiro | |
| Grant Deed | $645,000 | Old Republic Title | |
| Grant Deed | $400,000 | None Available | |
| Grant Deed | -- | None Available | |
| Grant Deed | -- | -- | |
| Interfamily Deed Transfer | -- | Chicago Title Co | |
| Grant Deed | $484,500 | Chicago Title Co | |
| Individual Deed | -- | Orange Coast Title | |
| Grant Deed | $235,000 | Stewart Title Of Ca Inc | |
| Quit Claim Deed | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $952,430 | FHA | |
| Previous Owner | $305,000 | Commercial | |
| Previous Owner | $110,000 | Commercial | |
| Previous Owner | $117,500 | Commercial |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/17/2024 12/17/24 | Sold | $970,000 | -1.9% | $865 / Sq Ft |
| 11/08/2024 11/08/24 | Pending | -- | -- | -- |
| 10/14/2024 10/14/24 | For Sale | $989,000 | +53.3% | $882 / Sq Ft |
| 01/21/2022 01/21/22 | Sold | $645,000 | -0.8% | $575 / Sq Ft |
| 12/20/2021 12/20/21 | Pending | -- | -- | -- |
| 12/06/2021 12/06/21 | For Sale | $650,000 | 0.0% | $580 / Sq Ft |
| 11/01/2021 11/01/21 | Pending | -- | -- | -- |
| 09/15/2021 09/15/21 | For Sale | $650,000 | +62.5% | $580 / Sq Ft |
| 09/04/2012 09/04/12 | Sold | $399,900 | -7.0% | $351 / Sq Ft |
| 08/01/2012 08/01/12 | Pending | -- | -- | -- |
| 09/17/2010 09/17/10 | For Sale | $429,900 | -- | $377 / 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 |
|---|---|---|---|---|
| 2024 | $8,695 | $671,058 | $421,362 | $249,696 |
| 2023 | $8,550 | $657,900 | $413,100 | $244,800 |
| 2022 | $5,871 | $464,036 | $348,117 | $115,919 |
| 2021 | $5,754 | $454,939 | $341,292 | $113,647 |
| 2020 | $5,740 | $450,275 | $337,793 | $112,482 |
| 2019 | $5,673 | $441,447 | $331,170 | $110,277 |
| 2018 | $5,499 | $432,792 | $324,677 | $108,115 |
| 2016 | $5,062 | $415,988 | $312,070 | $103,918 |
| 2015 | $4,858 | $409,741 | $307,383 | $102,358 |
| 2014 | $4,820 | $401,715 | $301,362 | $100,353 |
Source: Public Records
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC24212654
APN: 7254-021-035
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