4141 E 7th ST, Long Beach, CA 90804 – OC24212654 - Gary Heflin

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Gary Heflin

gheflin7@gmail.com +1(619) 379-1758

$ 989,000

Est. payment -/mo

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Active Under Contract

4141 E 7th ST Long Beach, CA 90804

2,700 Sqft Lot

UPDATED:

11/13/2024 01:46 AM

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision Belmont Heights

MLS Listing ID OC24212654

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1958

Lot Size 2,700 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-Term Rental (STR) license, a valuable asset, is included in the deal. With separate electric and gas meters for each unit, plus four parking spaces, this property is both flexible and independent for future tenants or owners. Located near Blair Field, Alamitos Heights Park, the beaches, bay and Marine Stadium, this property combines convenience with income potential.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBCCA

Interior

Interior Features Furnished

Heating Central

Cooling Central Air

Flooring Vinyl

Inclusions Back unit is fully furnished for Airbnb and will remain in property

Fireplace No

Laundry Inside, Laundry Closet

Exterior

Garage Asphalt, Driveway

Carport Spaces 5

Pool None

Community Features Street Lights, Sidewalks

View Y/N Yes

View Neighborhood

Roof Type Composition

Total Parking Spaces 5

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 1

Sewer Public Sewer

Water Public

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 7254021035

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Listed by Mary Ryan • Pacific Sotheby's Int'l Realty • 310-713-4860

Gary Heflin

Agent | License ID: 01356275

+1(619) 379-1758

Gary Heflin

4141 E 7th ST Long Beach, CA 90804

Key Details

Location

Interior

Exterior

Building

Others

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4141 E 7th ST