Bought with Christian Humbert • Coldwell Banker Realty
$970,000
$989,000
1.9%For more information regarding the value of a property, please contact us for a free consultation.
4141 E 7th Street Long Beach, CA 90804
1,121 SqFt
Key Details
Sold Price $970,000
Property Type Multi-Family
Sub Type OTHER
Listing Status Sold
Purchase Type For Sale
Square Footage 1,121 sqft
Price per Sqft $865
MLS Listing ID CROC24212654
Sold Date 12/17/24
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1958
Lot Size 2,701 Sqft
Property Description
This is an opportunity to acquire a high-demand asset in a desirable location with immediate income generation potential. Unlock the potential of this prime mixed-use property in Belmont Heights—an excellent opportunity for savvy investors or owner-users looking for strong value and steady returns. This well-maintained lot offers both commercial and residential spaces, both in turn-key condition and ready to generate income. The front unit, 4141, spans approximately 550 sq. ft. and serves as an office or retail space. With a current rental income of $3,000 per month, there may still be room to increase rent to align with market rates. It features a main room, full bath, kitchen, and two additional rooms, with potential for conversion to residential zoning with minimal modifications. The rear unit, 4147, is a two-bedroom, one-bath single-family home backing up to the quiet Greenbelt Park. This unit has been a highly profitable Airbnb, generating gross rents of approximately $72,000 in 2023—an average of just under $6,000 per month. Together, both units bring in an average of $9,000 per month in rental income, providing an attractive return on investment. The sale price includes not only the property but also all furnishings, appliances, artwork. Additionally, the City's Short-
Location
State CA
County Los Angeles
Interior
Heating Central
Cooling Central Air
Flooring Vinyl
Fireplace No
Laundry Laundry Closet, Inside
Exterior
View Other
Building
Water Public
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