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320 7th ST Seal Beach, CA 90740
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Key Details
Sold Price $3,100,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRPW24212470
Sold Date 12/17/24
Originating Board California Regional MLS
Year Built 1956
Lot Size 5,227 Sqft
Property Description
Extremely rare opportunity to own an 8 unit apartment in the highly sought after coastal community of Seal Beach, Orange County. The Seal Beach lifestyle offers award winning school districts and exceptional recreation and life-style opportunities. This equates to a strong rental market. This property has 5 one bedroom/one bath units, 2 two bedroom/1 bath units, and 1 three bedroom/one bath unit. Most tenants are long term residents. Actual rents total $16,899 per month which equals a 15.5 GRM. Potential rents based on the average RentOmeter analysis equals $23,460 per month, for a 11.2 GRM. This could be a potential 38% increase over current rents. The property also has four coveted enclosed garages rented separately.
Location
State CA
County Orange
Area 1A - Seal Beach
Interior
Cooling None
Laundry Laundry Area, Washer/Dryer - Leased
Exterior
Parking Features Assigned Spaces
Garage Spaces 4.0
Pool None
View None
Roof Type Flat / Low Pitch
Building
Lot Description Grade - Level
Foundation Concrete Slab
Water District - Public
Others
Tax ID 04311124
Special Listing Condition Not Applicable
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Bought with Gustavo Fimbres