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240 W 7th Street, Long Beach, CA 90813

$3,300,000

  • Sold
  • Closed
  • Multi-Family
240 W 7th Street, Long Beach, CA 90813View this property at 240 W 7th Street, Long Beach, CA 90813
240 W 7th StreetLong BeachCA90813

Map & Location

Street View

Property Description

Sara's Apartment property is a 29 unit apartment community located in the bike friendly area of Downtown Long Beach. This asset offers investors the unique opportunity to acquire an investment property with a restricted cash flow for 7 years with a long term upside in appreciation value. Long Beach is a non-rent controlled market. The property was originally constructed in 1957 and features 19 (Studio) and ten (1 Bedroom) units, encompassing a gross building area of 15,650 square feet. The building features controlled-access entry, on-site laundry and attached covered parking garages for 14 units. The Subject Property is located at 240 E. 7th Street in the downtown neighborhood of Long Beach. Situated less than 7 blocks from
Ocean Boulevard, The Pike Outlet Marketplace, and a mile from the ocean, just 6 blocks from the major retailers and restaurants along Pine Avenue.

Full Property Detailsfor 240 W 7th Street

General

  • Sold For: $3,300,000
  • Status: Closed
  • Type: Multi-Family
  • MLS ID: PW17035843
  • Added: 417 day(s) ago

Additional Information

  • Pool Description: None

Parking

  • Garage Spaces: 14

Location

  • Area: 4 - Downtown Area, Alamitos Beach
  • County: Los Angeles
  • Development Name: 4 - Downtown Area, Alamitos Beach
  • Driving Directions: 710 exit 6th Street; turn left on Cedar Ave.

Utilities

  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 30
  • # Electric Meters: 30

Structural Information

  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 15,690
  • Year Built: 1957

Unit Information

Unit 1

  • Number of Units: 19
  • Total Bathrooms: 1

Unit 2

  • Number of Units: 9
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 3

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Lot Features

  • Lot Size Source: Assessor
  • Zoning: LBPD10
  • Lot Description: 0-1 Unit/Acre

Financial Considerations

  • Price Per Sq. Ft.: $210.33
  • Price Per Unit: 110345

Listed by Coldwell Banker Commercial, George Bustamante and Becky Blair

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Your Property Information

Your Contact Information

Schools

Schoolsserving 240 W 7th Street

School District:Long Beach Unified School District
School Name
Grades
Distance
International Elementary School
700 Locust Ave, Long Beach, CA 90802
K-5
0.2 mi
Washington Middle School, Long Beach, CA
1450 Cedar Ave, Long Beach, CA 90813
6-8
0.7 mi
Cabrillo High School, Long Beach, CA
2001 Santa Fe Ave, Long Beach, CA 90810
9-12
1.8 mi
Disclaimer: School data provided by Pitney Bowes. School attendance boundaries are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History

Price & Sales Historyfor 240 W 7th Street

Date
Details
Price
Change
Source
4/12/2018
Sold
$3,300,000
3.12%
MLS
4/03/2017
Listed
$3,200,000
MLS
Disclaimer: Historical sales and tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Community Info

Community Infofor 240 W 7th Street

Listed by Coldwell Banker Commercial, George Bustamante and Becky Blair

240 W 7th Street, Long Beach, CA 90813 (MLS# PW17035843) is a Multi-Family property that was sold at $3,300,000 on April 12, 2018. Want to learn more about 240 W 7th Street? Do you have questions about finding other Multi-Family real estate for sale in Long Beach? You can browse all Long Beach real estate or contact a Coldwell Banker agent to request more information.