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$1,195,000

Beds
Unknown
sq ft
Unknown

2703 E 7th St, Long Beach, CA 90804

2703 E 7th St

Long Beach, CA 90804

  • 3 days on market
INVESTMENT OPPORTUNITY! Property to be delivered vacant with RTI ADU plans! Zoned LBCNR, 2703-2705 E. 7th St. is a versatile duplex located in the highly sought-after 7th Street district of Rose Park/Circle in Long Beach. Situated on a prime corner lot, this property offers endless possibilities for an owner/user, investors, developers, or business owners. With a mix of commercial and residential zoning, the property allows for various potential uses - buyer to verify. The sale includes RTI (Ready-to-Issue) plans for an ADU, allowing for the option to expand to three units. Buyers can maintain the current configuration or complete the ADU project to maximize rental income. Each existing unit features 2 bedrooms, 1 bath, a spacious living room, a formal dining room, a full kitchen, and a large sitting porch. The property also includes a detached single-car garage, separate electric and gas meters, upgraded plumbing, new wall furnaces, and a recently renovated kitchen in Unit 2703. Currently operating as a successful independent living home, the property generates strong income. Do not let this opportunity pass you by, contact listing agents below.

Details

Property type

Apartment

Est. home value

$1,511,765

Lot size

3,638 sq ft

Price per sq ft

Unknown

Year built

1919

HOA

No

Price History

02/20/2025
CRMLS

CRMLS #SB25036436

Listed
$1,195,000
-7.72%
12/13/2024
CRMLS

CRMLS #PW24214337

Removed
$1,295,000
10/16/2024
CRMLS

CRMLS #PW24214337

Listed
$1,295,000
+135.45%

Schools & Community

Neighborhood: 

Rose Park

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Sidewalks

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$722,462
Asking price
$1,195,000
Closing costs (~8% of asking)
-$95,600
Est. remaining loan balance
-$376,938
Cash to seller
$722,462

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

United Fidelity Funding Corp

Loan start date

December 2017

Original loan amount

$440,000

Est. remaining balance

$376,938

Interest rate

3.9%

Loan type

New Conventional, 30 year

Seller

Martha Forero

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 02/23/2025 at 2:45 PM

Listing updated: 02/21/2025 at 8:24 AM

Listed by: John Stiegler II, Lyon Stahl Investment Real Estate, Inc.Lyon Stahl Investment Real Estate, Inc. Phone #: (310) 425-9838

MLS: CRMLS #SB25036436

CRMLS logo

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