1242 E 7th StLong Beach, CA 90813
Los Angeles County
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
- 178
- 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
Listing Courtesy: Younglewin Advisors, Inc. - 562-266-7629
Presented by: Daniel Gomez and Shane Young
Licensed in the state of California.
Long Beach Market Statistics
How this home compares to 828 active listings in Long Beach, CA
| Long Beach median | This listing | |
|---|---|---|
| Median listing price | $880,952 | $1,150,000 |
| Median days on market | 56 | 178 |
| Median Sq Ft | 1,428 | 2,875 |
| Median price / Sq Ft | $582 | $400 |
Market statistics compiled from active EXIT Realty® and MLS listings in Long Beach, CA.
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Comparable nearby listings and their asking prices.
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|---|---|---|---|---|
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