338 E 7Th Street

  • Long Beach

  • $2,272,500
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Home sold on Friday, June 29, 2018. For available homes, view Similar Homes or Search Properties.


Residential Income Details

Description
Significant value add opportunity, priced at a 5.11% cap rate comprised of 10 spacious 1 Bed / 1 Bath units averaging 670 SF each. (4) units have undergone "gut" remodels to the studs, including porcelain tile floors, stainless steel appliances, quartz counters, custom cabinets, modern light fixtures, & marble shower tile. A 5th unit will be modernized and put in a condition suitable for a new investor to add finishes of their liking. Exterior improvements include a new roof in 2018, drought tolerant landscaping, custom metal work around the property for improved security & modern exterior paint. Great opportunity for an investor looking for a stable building with a realistic value add component and a 6.03% cap rate at market rents.
Essential
MLS #RS18087051
Price$2,272,500
Number of Units10
Sale TypeStandard
StatusClosed
Listing BrokerageNationwide Real Estate Execs
Listing AgentAndrew McAllister
Listing Agent BRE #01946829
Interior
Exterior
Garage Spaces0
PoolNone
Community
Area4 - Downtown Area, Alamitos Beach
TractDowntown (DT)
CommunityCurbs,Gutters,Sidewalks,Storm Drains,Street Lighting,Urban
Address338 E 7Th Street
CityLong Beach
CountyLos Angeles
StateCA
ZipCode90813
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Sunday, July 1, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.