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320 7th ST Seal Beach, CA 90740
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Key Details
Sold Price $3,100,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Old Town (Oldt)
MLS Listing ID PW24212470
Sold Date 12/17/24
HOA Y/N No
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
Zoning R-3
Interior
Cooling None
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Garage Spaces 4.0
Garage Description 4.0
Fence Average Condition
Pool None
Community Features Suburban
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Flat
Total Parking Spaces 4
Private Pool No
Building
Lot Description Level
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 04311124
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Gustavo Fimbres • Triqor Group