$981.27 Per Sq Foot $5,905 est/mo Sourced by Back At You

4141 E 7th Street,Long Beach, CA 90804

Long Beach CA, 90804

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Description

Explore the potential of this mixed-use property located in the highly sought-after Belmont Heights, an ideal choice for an owner-user or investor. This unique lot features both commercial and residential spaces that are in turn-key/like new condition. The front unit, addressed as 4141, offers approximately 550 sq. ft. of office or retail space. Currently rented at $3,000 per month, which is below market value, it includes a main room, a full bath, a kitchenette, and two additional rooms. This unit can also be rezoned to residential with some city-mandated "egress" modifications. The rear unit, addressed as 4147, is a cozy single-family home with two bedrooms and one bathroom, spanning approximately 571 sq. ft. residential unit backs up to Greenbelt Park and is very quiet with no immediate neighbors. It has been successfully utilized as an Airbnb, generating gross rents of approximately $82,000 in 2023, which averages just under $7,000 per month. Both units combined generate an average rental income of $10,000 per month before expenses. Both units can be delivered vacant of tenants. The list price includes the real estate, all contents, furnishings, appliances, artwork, kitchen utensils, the business LLC (Pilgrim's Way under which the Airbnb operates), and the City’s STR (Short Term Rental) license, which is renewed annually. Each unit has separate meters for electric and gas, enhancing their independence. Located just a few blocks from Blair Field, Recreation Park, Alamitos Heights Park, and within easy reach of local markets, stores, shops, restaurants, and the beach, this property offers both convenience and significant income potential. Situated conveniently between the units are four parking spaces. The property is being sold "AS IS" and "WHERE IS," with buyers encouraged to conduct their own investigations. Property is also listed under Residential Income MLS #SB24093615

Details

MLS#SB24092079
Listing TypeFor Sale
StyleMixed Use
Sub-TypeResale
StatusActive
Year1958
Days On Site18
Listing Provided ByCompass 310-362-0596 | Leonard LaRocca

Features

SQ Feet1,121
Story(s)1
Units2
Building(s)2
ZoningLBCCA
Acreage0.06

Market Activity 90804

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

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Learn More About This Property

StateCA
CountyLos Angeles
CityLong Beach
Zip Code90804
Area3 Eastside | Circle Area
Listing VS Median (in 90804)
Price:
$1,100,000
low | high
Med:
$599,000
95.545454545455% of Average
SqFt:
1,121
low | high
Med:
1,011
59.812667261374% of Average
$ / SqFt:
$981
low | high
Med:
$592
89.620627641399% of Average
On Site:
18
low | high
Med:
13.000000
100% of Average
Sourced by Back At You
Listing Updated: May 25, 2024 at 7:55:42 PM PDT