$1,150,000
-$50,0001242 E 7th St, Long Beach CA 90813
Multi-Family (4 Units)
Property type
78 days
On market
$400
Price per sqft
5 cars
Garage
1911
Year built
8,022 sqft
Lot size
Open Houses
Overview
HUGE PRICE ADJUSTMENT, MOTIVATED SELLER. Presenting 1242 E. 7th Street, Long Beach, a 3-unit multifamily property with a non-conforming bonus unit offering four income streams in one of Long Beach's most accessible and desirable coastal-adjacent neighborhoods, located less than one mile from Alamitos Beach. The true headline here is the development upside: the property sits on...
Listing provided by: Daniel Gomez DRE #02081392 562-318-0214, Younglewin Advisors, Inc., Shane Young DRE #01963090, Younglewin Advisors, Inc.
Listing updated: Jun 11, 2026 at 10:28pm.
Last checked: Jun 11, 2026 at 11:00pm
Source: CRMLS #PW26065037
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 1 | 3 | 2 | — | $3,200 | $3,200 | $3,200 | Unfurnished |
| 1 | 2 | 2 | — | $2,700 | $2,700 | $2,700 | Unfurnished |
| 1 | 2 | 1 | — | $2,500 | $2,500 | $2,500 | Unfurnished |
| 1 | 1 | 1 | — | $1,995 | $1,995 | $1,995 | Unfurnished |
# of Buildings: 2
# of Units Total: 4
Separate Electric Meters: 4
Separate Gas Meters: 4
Separate Water Meters: 1
Rent Control: Yes
Financial Snapshot
Gross Rent Multiplier
9.2x
List Price / Annual Gross Rent
Cap Rate
7.02%
NOI / List Price
Gross Scheduled Income: $124,740
Vacancy Allowance: $3,742
Vacancy Allowance Rate: 3%
Operating Expense: $36,751
Net Operating Income: $84,247
Annual Operating Expenses
Electric: $0
Gardener: $1,200
Fuel: $0
Insurance: $3,594
Maintenance: $2,600
New Taxes: $16,073
Professional Management: $6,237
Supplies: $1,000
Trash: $0
Water / Sewer: $0
Other Expense: $4,800
Interior
Cooling: Wall Window Units
Fireplace: None
Laundry: Common Area
Entry Location: 7th St
Exterior
Property Attached: Yes
Stories Total: 2
Levels: Two
Common Walls: Two Common Walls Or More
Lot Features: Zero To One Unit Acre
Pool: None
Water Source: Public
Sewer: Public Sewer
Garage and Parking
Garage Spaces: 5
Uncovered Spaces: 5
Parking Total: 10
Lot Information
Land Lease: No
Common Interest: None
Parcel #: 7266012003
Additional Parcels: No
Tax Lot: 3
Zoning: LBCNR
Tax Block: 1
Community
Senior Community: No
Community Features: Biking, Curbs, Dog Park, Golf, Hiking, Park, Sidewalks
Nearby Schools
Nearby schools around the 1242 E 7th St, Long Beach, CA 90813. Contact the school or district directly to verify enrollment eligibility.
Payment Calculator
Total Principal
$920,000
Total Interest
$1,173,409
Total Payment
$2,093,409
Payoff Date
Jun 2056
PMI is disabled automatically when your down payment is 20% or more.
Est. Payment
$7,163
per month
Property History for 1242 E 7th St
Long Beach Market Snapshot
Market stats compare this property with recent MLS activity for similar property types in 90813.
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