1242 E 7th St
Long Beach, CA 90813
Listing broker / agent: Younglewin Advisors, Inc. · Daniel Gomez · 562-266-7629 · CRMLS
MLS # PW26065037 · Last checked Oct 20, 2026 16:46 UTC
About this property
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 details
- MLS number
- PW26065037
- Status
- Active Under Contract (Backup)
- Type
- Residential Income
- Subtype
- Apartment
- Lot size
- 0.1842 acres
- County
- Los Angeles
- Year built
- 1911
- Stories
- 2
More property detailsCollapse
Listing
- Days on market
- 190
Building
- Year built
- 1911
- Year built source
- Assessor
- Stories
- 2
- Building stories
- 2
- Levels
- Two
- Entry level
- 1
Rooms & interior
- Cooling
- Wall Window Units
- Fireplace
- None
- Laundry
- Common Area
Exterior & parking
- Total parking spaces
- 10
- Garage spaces
- 5
- Pool
- None
- Lot features
- Zero To One Unit Acre
- Lot size source
- Assessor
Utilities & community
- Water
- Public
- Sewer
- Public Sewer
- Community features
- Biking, Curbs, Dog Park, Golf, Hiking, Park, Sidewalks
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Franklin Classical Middle Long Beach Unified · Long Beach | 6–8 | 0.2 mi |
| Lincoln Elementary Long Beach Unified · Long Beach | K–5 | 0.4 mi |
| Stevenson Elementary Long Beach Unified · Long Beach | K–5 | 0.5 mi |
| Burbank Elementary Long Beach Unified · Long Beach | K–5 | 0.6 mi |
| Clear Passage Educational Center (school website, opens in a new tab) Long Beach Unified · Long Beach | 9–12 | 0.7 mi |
| Renaissance High School for the Arts Long Beach Unified · Long Beach | 9–12 | 0.9 mi |
| Jenny Oropeza Elementary Long Beach Unified · Long Beach | K–5 | 0.9 mi |
| Polytechnic High Long Beach Unified · Long Beach | 9–12 | 1.0 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $1,150,000
- MLS-reported original asking price
- $1,350,000
- MLS-reported previous asking price
- $1,200,000
- MLS-reported last price change
- 2026-05-27 14:59 UTC
| Observed (UTC) | Asking price |
|---|---|
| Oct 9, 2026 03:09 | $1,150,000 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
- MLS-reported annual tax (2026)
- $17,976
| Tax year | Annual tax | Observed (UTC) |
|---|---|---|
| 2026 | $17,976 | Oct 9, 2026 03:09 |
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in Long Beach
Active residential homes for sale in Long Beach, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
109 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-20 17:42 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
Payment calculator
Explore a fixed-rate loan scenario. The price comes from this listing; a 20% down payment and 30-year term are starting assumptions, not requirements. Enter your own interest rate—not APR—and estimated costs.
Illustration only—not a rate quote, preapproval, lending offer or affordability determination. Assumes equal monthly payments on a fully amortizing fixed-rate loan; no adjustable rates, interest-only periods or balloon payments. Excludes closing costs, utilities, maintenance, special assessments and other unentered costs. Actual payments and escrow can differ. Review a Loan Estimate with your lender.
Understanding homeownership costs — CFPB ↗