Description
We are pleased to present an exceptional Rose Park Multi-Family Investment Opportunity located in the highly desirable Rose Park neighborhood of Long Beach - 2123 E. 7th Street. Centrally located just blocks from the Pacific Ocean and the vibrant 4th Street dining and retail corridor, the property sits directly across the street from the renowned, Michelin-starred Heritage restaurant and newly developed $1 million condominiums. The expansive 6,058-square-foot oversized lot features three separate structures, comprising a large fourplex alongside two detached units. The asset offers a highly favorable unit mix consisting of four 2-bedroom/1-bathroom units and two 1-bedroom/1-bathroom units. Investors will benefit from major turnkey upgrades, including a new roof installed in 2020 and fully completed SB721 balcony compliance work. The property provides significant upside potential with straightforward value-add opportunities, including a potential garage conversion to an Accessory Dwelling Unit (ADU) and/or the addition of units built above the garages. Parking accommodations are also easily managed, featuring two single-car garages alongside convenient surface parking for tenants. *Property is located in an Opportunity Zone, which can provide preferential tax treatment for a buyer if they have capital gains to place. **2bedroom units are functionally two bedrooms and show as 1bedrooms on the tax roll. Buyer to verify.
Details
| MLS # | PW26171200 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1923 |
| Days On Site | 30 |
| Listing Provided By | Younglewin Advisors, Inc. | Shane Young |
Features
| SQ Feet | 4,422 |
|---|---|
| Garage | 2 |
| Story(s) | 2 |
| Units | 6 |
| Building(s) | 3 |
| Acreage | 0.14 |
| Golf Course | Yes |
Exterior
| Lot Features | Corner Lot, Near Public Transit, Rectangular Lot, Yard |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Biking, Curbs, Dog Park, Golf, Park, Storm Drains, Street Lights, Sidewalks, Water Sports |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 3 Eastside | Circle Area |
| Community Name | Eastside (ES) |
| Listing VS Median (in Eastside (ES)) | |
Price: $1,325,000 low | high Med: $730,000 sqft: 4,422 low | high Med: 1,300 $ / sqft: $300 low | high Med: $562 On site: 30 low | high Med: 52 | |
Market Activity 90804
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 3 Eastside | Circle Area |
| Community Name | Eastside (ES) |
| Listing VS Median (in Eastside (ES)) | |
Price: $1,325,000 low | high Med: $730,000 sqft: 4,422 low | high Med: 1,300 $ / sqft: $300 low | high Med: $562 On site: 30 low | high Med: 52 | |
