240 W 7th St
Long Beach, CA 90813

Bd   Ba   15,690 Sqft   171 Days
Sara’s Apartment property is a 29 unit apartment community located in the bike friendly area of Downtown Long Beach. This asset offers investors the unique opportunity to acquire an investment property with a restricted cash flow for 7 years with a long term upside in appreciation value. Long Beach is a non-rent controlled market. The property was originally constructed in 1957 and features 19 (Studio) and ten (1 Bedroom) units, encompassing a gross building area of 15,650 square feet. The building features controlled-access entry, on-site laundry and attached covered parking garages for 14 units. The Subject Property is located at 240 E. 7th Street in the downtown neighborhood of Long Beach. Situated less than 7 blocks from Ocean Boulevard, The Pike Outlet Marketplace, and a mile from the ocean, just 6 blocks from the major retailers and restaurants along Pine Avenue.
  • $0 HOA
  • $204/Sqft
  • MLS#PW17035843 provided by George Bustamante of Coldwell Banker Commercial
  • Movoto last checked CRMLS for new data 4 hours ago
  • CRMLS last updated this listing 1 month ago

Home Features for 240 W 7th Street, Long Beach

Year Built: 1957
Property SubType: Commercial/Residential
Lot Size Acres: 0.34
Lot Size Square Feet: 15002
Lot Size Units: Square Feet
Lot Size Area: 15002
Price Per Square Foot: 203.95
Tax Lot: 3
Tax Tract Number: 21
Parcel Number: 7272021003
Tax Census Tract: 5759.02
Special Listing Conditions: Standard
Standard Status: Pending
Exterior
Levels: Two
Common Walls: 2+ Common Walls
Building Area Units: Square Feet
Average 2nd Bedroom Area Units: Square Feet
Average Studio Area Units: Square Feet
Number Of Buildings: 1
Average 3rd Bedroom Area Units: Square Feet
Average 1st Bedroom Area Units: Square Feet
Building Area Total: 15690
Parking Total: 14
Garage Spaces: 14
Number Of Units Total: 29
Property Attached Y/N: 1
Amenities / Utilities
Community Features: Street Lighting
Pool Features: None
Location
Subdivision Name: Other (OTHR)
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Property History for 240 W 7th Street, Long Beach

Status
Date
Price
Pending
Aug 16, 2017
Active
(Under Contract)
Apr 10, 2017
Listed
Apr 3, 2017
$3,200,000
#PW17035843

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Real Estate Market Statistics for 240 W 7th Street, Long Beach

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240 W 7th Street

No data!
Downtown Long Beach
Long Beach
90813
List Price
Price/Sqft
Homes for Sale
Days on Movoto

List Price

$3.2M

240 W 7th Street

$435K

Downtown Long Beach

0% y/y

Downtown Long Beach

$299K

90813

-6% y/y

90813

$619K

Long Beach

3% y/y

Long Beach

See all trends for Long Beach
240 W 7th St in ZIP code 90813 is a multi family home currently listed for $3,200,000. This is 967% above the median of $299,999 for 90813 and 416% above the median price of $619,900 for the city of Long Beach, CA. As of today, , there are 27 properties listed for sale in the 90813 area and 468 properties listed for sale in Long Beach. Of those 468 properties for sale, 317 are single family homes and 151 are condos. 240 W 7th St is approximately 15,690 square feet, 983% above the Long Beach median of 1,449 and 1811% above the 90813 ZIP code median of 821. The price per square foot is $204, which is 43% below the median price in 90813 of $358 and 54% below the Long Beach median of $441 per Sqft.
Built in 1957, this multi family house at 240 W 7th St is approximately 15,690 square feet and comes with 14 parking spots. It is listed on 04/03/2017 with a cost per Sqft of $204. 240 W 7th St is located in the Downtown Long Beach neighborhood in the Long Beach Unified School District. The closest school is International Elementary School.

240 W 7th St has been on the market for 171 days. The median days on the market for properties in this area is 36 with a median list price of $619,900 and median cost per square foot of $441. It's currently listed as pending under the MLS #PW17035843.

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