REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Natasha Nicolakakis

Engel & Völkers

natasha.nicolakakis@engelvoelkers.com +1(818) 620-0797

Listed by Joshua A Barut • Lyon Stahl Investment Real Estate, Inc.

$ 1,475,000

Est. payment -/mo

Save

Price Dropped by $50K

3822 East 7th Street Long Beach, CA 90804

3,946 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 3,946 sqft

Price per Sqft $373

MLS Listing ID SB-26163180

Year Built 1924

Lot Size 5,014 Sqft

Property Sub-Type Apartment

Source California Regional Multiple Listing Service (CRMLS)

Property Description

We are pleased to present 3822 E. 7th Street, a well-maintained 5-unit multifamily investment opportunity located in the Belmont Heights submarket of Long Beach. This 5,014 SF lot benefits from extremely efficient lot coverage as it features (2) separate structures, a large central courtyard, and a communal outdoor barbeque area in the rear. The front structure consists of (4) 1 Bed/1 Bath units. These spacious, nearly identical units span approximately 750 square feet each and showcase the classic character and charm associated with vintage Belmont Heights apartments. The rear structure features (1) fully remodeled 2 Bed/1 Bath unit upstairs with approximately 950 SF of living area, which includes a master bedroom and walk in closet. Downstairs, there are (3) garages (one of which is currently being used for owner storage), and an on-site laundry room with leased units. Overall, the property has been meticulously maintained by ownership and features copper plumbing throughout with a consistently maintained main sewer line, exceptional unit interiors, and a recently inspected roof found to be in excellent condition. Priced at a 5.43% CAP rate and 12.06 GRM on current in-place income, with upside to an achievable 7.93% Market CAP rate and 9.16 Market GRM, this offering provides investors with strong day-one cash flow with compelling value-add components on multiple fronts. First, the 33% rent upside is compounded by the building's extremely efficient expense profile as owner-paid utility expenses have historically remained very low. Further, the prudent investor can increase NOI by transitioning to owner-operated laundry equipment and monetizing the garage currently used for owner storage. In addition, the configuration of the rear structure offers significant ADU appeal (buyer to verify). Lastly, this Belmont Heights location boasts a Walk Score of 92 (“Walker's Paradise”) and is located near excellent schools, including Woodrow Wilson High School a mere half mile away. In addition, the property's proximity to the Traffic Circle provides convenient access to the major economic and employment hubs of Los Angeles and Orange counties, supporting consistent tenant demand in this strong infill location

Location

State CA

County Los Angeles

Area 2 - Belmont Heights, Alamitos Heights

Interior

Interior Features Crown Molding, Copper Plumbing Full, Ceiling Fan(s), Built-In Features, High Ceilings

Heating Wall Furnace

Fireplaces Type None

Laundry Common Area

Exterior

Exterior Feature Lighting

Parking Features Garage, Garage - Single Door

Garage Spaces 3.0

Pool None

Community Features Curbs, Golf, Sidewalks

View Y/N No

View None

Building

Lot Description 0-1 Unit/Acre, Back Yard

Sewer Public Sewer

Natasha Nicolakakis

Advisor

+1(818) 620-0797

Natasha Nicolakakis

3822 East 7th Street Long Beach, CA 90804

Key Details

Location

Interior

Exterior

Building

GET MORE INFORMATION

Go tour this home

3822 East 7th Street