Residential Income in Long Beach

$1,399,900

1089 7th, 90813, Long Beach, CA

Residential Income for sale in Long Beach, 1089 7th, 90813, 3020 m²

1089 7th, 90813, Long Beach, CA

$1,399,900

6Bed
4Bath
3020
Type: Residential Income

Description

STRONG LONG BEACH MULTIFAMILY INVESTMENT & PORTFOLIO OPPORTUNITY! Offered at $1, 399, 900, 1089 E. 7th Street presents investors with an opportunity to acquire an income-producing Long Beach multifamily asset generating approximately $8, 000 PER MONTH / $96, 000 IN ANNUAL GROSS RENT. With approximately $27, 465 in annual operating expenses, the property generates an estimated NET OPERATING INCOME (NOI) OF $68, 535, representing an approximate 4.90% CAP RATE at the offered price. The property also reflects an approximate 14.58 GRM, providing investors with an attractive combination of existing income, cash flow, and long-term ownership potential in the Long Beach rental market. Unlike opportunities that depend primarily upon future projections, 1089 E. 7th Street offers substantial EXISTING RENTAL INCOME from day one. The property's income profile makes it well suited for a long-term multifamily investor, portfolio buyer, or 1031 Exchange purchaser seeking replacement property with established cash flow. Located in Long Beach, the property provides access to one of Southern California's established rental markets and offers investors the opportunity to acquire a multifamily asset with approximately $96, 000 in annual gross rental income while maintaining the potential for future rent growth, operational improvements, and long-term appreciation. PORTFOLIO OPPORTUNITY: 1089 E. 7th Street is being offered as part of a portfolio sale together with 117 W. 9th Street. The properties offer complementary investment strategies: 1089 E. 7th Street provides high existing income, and 117 W. 9th Street offers two vacant 2-bedroom units with owner-user and value-add potential. Contact listing agent for portfolio details and terms.1031 EXCHANGE: Seller intends to complete an IRC Section 1031 Tax-Deferred Exchange. Buyer to cooperate with Seller's 1031 Exchange at no cost or liability to Buyer; also to independently verify all rents, expenses, income, vacancies, market rents, square footage, unit configuration, permits, zoning, financial information, and all other property information.

Location

1089 7th, 90813, Long Beach, CA

Data

Object TypeResidential Income
Purchase Price$1,399,900
Living Space3020 m²
Plot Size240.8 m²
Bathrooms4
Construction Year1922
ConditionNot specified
RoomsN/A

Energy Information

Heating TypeNatural Gas
Primary Energy SourceN/A
Construction Year1922
Energy CertificateN/A
Final Energy DemandN/A
Certificate Valid UntilN/A
Energy Efficiency ClassN/A

Contact Agent