$10,000 Closing Credit¹
#PW24232551, Vittorio Phung, Listing Office: Triumph Real Estate Solutions
$10,000
closing credit¹
1242 E 7th St Long Beach, CA 90813
$1,800,000 List price
$10,000
Closing credit¹
0.2 acres
Multi-Family
Property details
About 1242 E 7th St
Located at 1242 E 7th St., Long Beach, CA, this beautiful turnkey 4-unit Craftsman property offers a prime investment or owner-user opportunity in a vibrant, centrally located North Alamitos Beach neighborhood. The property sits on a 8,000 sq. ft. lot and features a 2,875 sq. ft. building, delivering a mix of spacious and stylishly remodeled units. The property includes one three-bedroom unit (~ 775 sq. ft.), two two-bedroom units (~750 sq. ft.), and one one-bedroom unit (~ 600 sq. ft.). Each unit has been completely remodeled, featuring modern interiors, updated kitchens and baths, and premium finishes, making this property a true turnkey investment. This property offers significant value-add potential. The lot includes five garages, presenting an ideal opportunity for Accessory Dwelling Unit (ADU) conversion to maximize rental income. Additionally, the large lot size and layout provide ample space to build additional units. Other highlights include a long driveway and ample parking, a rare and desirable feature in urban multifamily properties. This makes the property particularly attractive to tenants and ensures strong occupancy rates. For those considering living on-site, one unit is currently vacant, offering the perfect owner-user opportunity to live in one unit while collecting income from the others. Alternatively, the vacancy allows for immediate leasing at market rent, boosting cash flow. With its modernized interiors, potential for expansion, and prime location near downtown Long Beach, this property is an excellent opportunity for investors and owner-users alike. Don’t miss out on this rare combination of current income and future upside. 4th Unit approval eminent.
Highlights
Home typeQuadruplex
StatusActive
Lot size0.1842 Acres
Year built1911
MLS #PW25014615
Garage5 spaces
Summary
- MLS Number: PW25014615
- MLS Name: CRMLS
- Office Name: Keller Williams Coastal Prop.
- Office Email: stelios@szcre.com
- Listing Agent: Stelios Zoumberakis
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/10/2025, 8:20:55 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$1,800,000
1242 E 7th St
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Oct 25, 2022 | Home Sold | $1,420,000 |
| Jan 03, 2019 | Home Sold | $790,000 |
| May 31, 1996 | Home Sold | $140,500 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $1,448,620 | $18,760 |
| 2023 | $1,420,220 | $18,449 |
| 2022 | $830,649 | $10,635 |
| 2021 | $814,367 | $10,420 |
| 2020 | $805,800 | $6,501 |
| 2019 | $478,264 | $6,218 |
| 2018 | $468,887 | $6,153 |
| 2017 | $459,694 | $6,153 |
History based on county public records data.
Nearby schools
6
Lincoln Elementary School
Public District KG-5
0.4 mi
•1175 E 11th St
5
Robert Louis Stevenson Elementary School
Public District KG-5
0.5 mi
•515 Lime Ave
6
Burbank Elementary School
Public District KG-5
0.6 mi
•501 Junipero Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $46,817. The majority of Long Beach, CA residents have income between $35k-100k annually. Most families are single, no kids. Most residents in this area have post secondary degree education.
How much money do the neighbors make?
34%
<35k
56%
35k-100k
8%
100k-200k
2%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
58%
Single, No Kids
20%
Single, with Kids
8%
Married, No Kids
14%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
16%
<11 yrs old
9%
12-17 yrs old
34%
18-34 yrs old
36%
35-64 yrs old
5%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Major League Soccer (MLS)
Mexican League Soccer
Where do the neighbors shop?
H&M
Burlington
Ross Dress For Less
Where do the neighbors go to eat?
Boston Market
Popeyes
White Castle
What do the neighbors drive?
Honda
Nissan
Kia
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary
Jazz
All data provided by Home Junction and Claritas
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This home is located at 1242 E 7th St in Long Beach, CA and zip code 90802 in the The Harbor neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since January 22, 2025 and is currently priced at $1,800,000.
In January 2025 more than 63 listings in Long Beach, CA were sold above the asking price. During the same period more than 35 listings were sold at asking price, while more than 53 were sold below. The number of listings in Long Beach, CA increased by 5.6% between December and January 2025. In January 2025, listings were on the market for 42 days. During the same period, the median list price in this real estate market was $825,147.
From Rocket Homes Real Estate and based on county public records data.