1047 E. 7th Street is a 15-unit apartment asset located in North Alamitos Beach, offering an assumable loan at 3.70% interest-only through 2030 with a 0.5% assumption fee. Priced at 11.72 GRM and 5.77% cap rate on current rents, this asset delivers a 7.62% cash on cash return. The controlled-access building is comprised of (14) 2BD/1BA units (1) 2BD/2BA unit. Other features include on-site laundry facilities and 10 garages, presenting a strong ADU opportunity. With a Walk Score of 92 and Bike Score of 91, the property is conveniently located adjacent to East Village Arts District, Downtown Long Beach, Shoreline Village, and the beach/bike path.