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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$1,150,000

Est. payment - /mo

8,023 Sqft Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26065037

HOA Y/N No

Year Built 1911

Annual Tax Amount $17,976

Tax Year 2026

Lot Size 8,023 Sqft

Property Sub-Type Apartment

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 1911, the property retains its original Craftsman-era character, underwent a full electrical rewire in 2003, and has seen interior upgrades across the units over the years. With a Walk Score of 92 and Bike Score of 90, residents enjoy effortless access to Alamitos Beach, Belmont Shore, Retro Row, and Downtown Long Beach, all just minutes away.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBCNR

Interior

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Biking, Curbs, Dog Park, Golf, Hiking, Park, Sidewalks

Total Parking Spaces 10

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7266012003

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by Daniel Gomez Younglewin Advisors, Inc. 562-266-7629, DRE #02081392

NEARBY SCHOOL & BUSINESS

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1242 E 7th St Long Beach, CA 90813