4117 E. 7th Street

4117 E. 7th Street, Long Beach, CA 90804

Sale Price

$5,064,000

Investment Overview

Units

16

Year Built

1960

Price Per SF

$464

Price Per Unit

$316,500

Current Cap Rate

2.73%

Market Cap Rate

4.72%

Current GRM

18.40

Market GRM

13.11

The Offering

4117 E. 7th Street is a 16-unit investment property located in the popular Belmont Heights neighborhood of Long Beach.  Situated on 11,901 square feet of land, the building offers a mix of nine 2 BD / 1 BA units and seven 1 BD / 1 BA units, eight parking spaces and on-site laundry.

TREMENDOUS VALUE-ADD OPPORTUNITY

The property remains largely untouched, presenting a new owner with limitless upgrade opportunities to compete with newer properties in the area and realize over 40% potential upside in rents. The 1960’s construction provides favorable conditions for renovations.

#3 BEST NEIGHBORHOOD IN LONG BEACH

Belmont Heights is ranked as the #3 Best Neighborhood in Long Beach according to Niche.com, along with the #6 Best Neighborhood to Raise a Family and #9 Best Neighborhood with Young Professionals.

CONVENIENT, DIVERSE AMENITIES

Tenants also have nearby access to outdoor amenities such as the adjacent Recreation Golf Course, Alamitos Bay, Naples Island and various parks.  A number of popular bars, restaurants and coffeeshops and a plethora of retail amenities are in close proximity, making daily errands convenient.

CLOSE PROXIMITY TO CALIFORNIA STATE UNIVERSITY, LONG BEACH

With an enrolled population of 37,448 students and an employed faculty of 2,171 instructional employees, nearby CSULB is a consistent source of renters looking to escape from the density of College Estates and Bixby Hill.

Investment Highlights

  • Value-Add Opportunity with over 40% Upside Potential
  • 1960’s Construction Provides Favorable Conditions for Renovations
  • Attractive Mix of One and Two Bedroom Units
  • Close Proximity to Cal State Long Beach, Providing a Solid Rental Pool
  • Prime Belmont Heights Location – #3 Best Neighborhood in Long Beach
  • Near Recreation Park Golf Course, Alamitos Bay and other Recreational Areas