1242 E 7th StLong Beach, CA 90813

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.

Property Information

Property type

Residential Income

Sub-type

Apartment

Year built

1911

Stories

2

Building area

2,875 Sq Ft

Lot size

0.18 acres

Garage spaces

5

Parking spaces

10

Zoning

LBCNR

Days on market

226

MLS^® Listing#

PW26065037

Property Features

Cooling

Wall/Window Unit(s)

Fireplace

None

Pool

None

Laundry

Common Area

Community

Curbs · Golf · Park · Sidewalks

Sewer

Public Sewer

Water source

Public

Financial Details

Annual taxes

$17,976Tax year 2026

Parcel number

7266012003

Directions

7th St in between Orange Ave & Almond Ave