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Listed by Daniel Gomez, DRE #02081392 • Younglewin Advisors, Inc.
$1,150,000
Est. payment /mo
8,022 Sqft Lot
Active
1242 E 7th St Long Beach, CA 90813
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Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26065037
Year Built 1911
Lot Size 8,022 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
Property Description
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 a generous 8,022 SF lot zoned CNR, a flexible bonus-density designation that supports a higher-density mix of residential uses than standard zoning, with access to Long Beach's Enhanced Density Bonus program and significant ADU expansion potential via SB 1211, California's most aggressive multi-family ADU law, which allows one detached ADU for every primary unit on site. For ADU enthusiasts, this lot is a dream come true. The lot size, zoning, and garage footprint check every box for maximizing ADU potential under current California law, making this one of the most ADU-friendly opportunities to hit the Long Beach market. The five detached garages and private laundry room, newly constructed in 2003, further add to the long-term redevelopment potential and additional income opportunities. Combined, these tools create a credible path to dramatically increasing the unit count and long-term asset value. Built in
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Cooling Window / Wall Unit
Laundry Laundry Area, Washer/Dryer - Owned
Exterior
Garage Spaces 10.0
Pool None
Building
Water District - Public
Others
Tax ID 7266012003
Special Listing Condition Not Applicable
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