516 E 7th St

2
Baths
1,221 Sq. Ft.
$524 / Sq. Ft.
1,221
Sq. Ft.
$524
per Sq. Ft.

Description

HUGE PRICE ADJUSTMENT: Both units are now rented! Wonderful move-in ready, income property, two units: 2/1 and 1/1. Both units just updated. Updates include: New electrical throughout the house, including the basement and everything up to 2023 code , the plumbing was separated for the two units and inspected and updated as needed, and a new gas, water and sewer line were added with city approval, 2 new tankless water heaters installed, new fire-rated walls between units through the attic and all...HUGE PRICE ADJUSTMENT: Both units are now rented! Wonderful move-in ready, income property, two units: 2/1 and 1/1. Both units just updated. Updates include: New electrical throughout the house, including the basement and everything up to 2023 code , the plumbing was separated for the two units and inspected and updated as needed, and a new gas, water and sewer line were added with city approval, 2 new tankless water heaters installed, new fire-rated walls between units through the attic and all the way up to the roof, new roof installed 10 years ago, front bathroom remodeled in 2023 and the back bathroom remodeled in 2013, new foundation in 2016 and fresh paint throughout. Located in the East Village neighborhood of Long Beach, close to coffee shops, trendy restaurants, public transportation, the 4th corridor, and the beach. Please note, street parking only (no garage)
  1. Listed by Costanza Genoese Zerbi • DRE #01941438 • Brokerage DRE #01521930 • Redfin Corporation • 562-221-4527

Property Details for 516 East 7th Street

Parking Spaces Total
0
Private Pool
No
Total Units
2.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
1221
Assessor Parcel Number
7274-018-005
Property Attached YN
true
LISTING UPDATED: 04/24/2024 05:37 AM

Property Details for 516 East 7th Street

StatusClosed
MLS #PW23210806
Days on Market133
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1917
Lot Size0.05 AC / 2,127 SF
CountyLos Angeles County

Location

Listing Courtesy of Redfin Corporation, Costanza Genoese Zerbi, DRE #01941438

Sold By Keystone Realty Group, Samir Rai, DRE #01868728

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Building Information for 516 East 7th Street

Stories1Residences-Year Built1917Building Size-Lot Size0.05 AC / 2,127 SF

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OriginPoint Mortgage or Rocket Mortgage1

$3,915 per month

30 year fixed, 6.36% Interest

Principal and Interest

$3,189

Property Taxes

$726

HOA Dues

$0

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Property Information for 516 East 7th Street

Rental Info
Rental Info
  • Tenant Pays: All Utilities, Cable TV, Electricity, Exterior Maintenance, Grounds Care, Gas, Pest Control, Sewer, Telephone, Trash Collection
Income / Expense / Tax Details
Income Details
  • Gross Income: $45,480
  • Gross Scheduled Income: $45,480
  • Net Operating Income: $43,725
  • Financing: Conventional
Expense Details
  • Operating Expense: $1,745
  • Insurance Expense: $745
  • Trash Expense: $500
  • Water Sewer Expense: $500
  • Total Expenses: $1,745
Tax / Assessment Info
  • Tax Block: 45
  • Tax Tract Number: 0
  • Tax Census Tract: 5762.00
  • CFD/Mello-Roos Fee: $377
  • Tax Lot: 6
Community / Development
Community / Development
  • Community Features: Sidewalks
  • Community: Downtown (DT)
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: front door and side door for second unit
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
Land/Lot Info
  • Lot Features: Level
  • Number Of Units: 2
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Downtown
  • Builders Tract Code: Downtown (DT)
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,595
  • Unit Type Total Rent: $1,550
  • Unit Type Pro Forma: 1995
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,995
  • Unit Type Total Rent: $1,995
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 0
  • Number With Range: 2
  • Number With Refrigerator: 1
  • Number With Disposal: 2
  • Number Wall AC: 0

Property History for 516 East 7th Street

DateEvent & SourcePriceAppreciation
Apr 24, 2024

Sold

CRMLS #PW23210806

$640,000—
Apr 24, 2024

Sold

SDMLS #PW23210806

$640,000—
Apr 24, 2024

Sold

CLAW #PW23210806MR

$640,000—
DateEvent & SourcePrice
04/24/2024

Sold

CRMLS #PW23210806

$640,000
04/24/2024

Sold

SDMLS #PW23210806

$640,000
04/24/2024

Sold

CLAW #PW23210806MR

$640,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 516 East 7th Street

Taxable ValueLand$564,570Additions$88,230Total$652,800
Tax Record2025$8,709 ($726 / month)
Home Facts
Beds3Total Finished SqFt1,221 SqFtAbove Grade Finished SqFt1,221 SqFtLot Size2,127 SqFtStyleSingle Family ResidenceYear Built1917ZoningLBPD30CountyLOS ANGELESAPN7274-018-005

Schools near 516 East 7th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Stevenson Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Renaissance High School For The Arts
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Redfin Corporation, Costanza Genoese Zerbi, DRE #01941438

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.