338 Elm Avenue 7, Long Beach, California 90802, Long Beach, 90802 - 1 bed, 1 bath
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Long Beach, California 90802
This Strong Value Opportunity is a 1-bedroom condominium listed at $299,900, positioned well below the $303,541 Fair Market Value by 1%. This valuation gap offers $3,641 in Instant Equity. With a Condition Rating of 4, the unit offers a blank canvas for modernization in the vibrant East Village Arts District. Featuring west-facing picture windows and peek-a-boo skyline views, this property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking an affordable entry into the Long Beach market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 338 Elm Avenue 7 Subject | $299,900* List Price | 1 | 1 | 643 | $472 | - |
A 100 Atlantic Sold | $370,000 | 2 | 1 | 820 | $451 | 0.2 mi |
B 933 E 1st Street 7 Sold | $338,000 | 1 | 1 | 629 | $537 | 0.4 mi |
C 102 Lime Avenue 6 Sold | $337,000 | 1 | 1 | 684 | $493 | 0.3 mi |
D 250 Linden Avenue 25 Sold | $310,000 | 1 | 1 | 597 | $519 | 0.1 mi |
E 528 Cedar Boulevard 1f Sold | $315,000 | 1 | 1 | 812 | $388 | 0.5 mi |
F 140 Linden 354 Sold | $380,000 | 1 | 1 | 628 | $605 | 0.2 mi |
G 102 Lime Avenue 7 Sold | $346,000 | 1 | 1 | 690 | $501 | 0.3 mi |
H 50 Elm Avenue 4 Sold | $350,000 | 1 | 1 | 713 | $491 | 0.2 mi |
I 100 Atlantic Ave 310 Active | $339,999 List Price | 1 | 1 | 600 | $567 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1958 (66 years old) and the listing lacks any mention of recent renovations to the kitchen, bathrooms, or HVAC/electrical systems. While described as a 'fantastic opportunity,' the focus on location and value rather than interior finishes suggests a dated unit that likely requires cosmetic updates and modernization of original components.
Situated in the heart of the East Village Arts District, the property offers exceptional walkability to The Promenade, Shoreline Village, and premier waterfront dining and entertainment.
Priced under $300,000 with a relatively low association fee, this unit represents a rare and affordable entry point for homeownership in a high-demand coastal downtown market.
The oversized living area features large west-facing picture windows that flood the space with natural light and provide charming peek-a-boo views of the downtown skyline.
With only 643 square feet of interior space, the unit may feel restrictive for buyers requiring significant storage or a dedicated home office setup.
Built in 1958, the property may lack modern amenities such as central air conditioning or in-unit laundry, and may require future capital improvements typical of mid-century structures.
Welcome to 338 Elm Ave. #7, a fantastic opportunity to own in the vibrant East Village Arts District of Downtown Long Beach. This spacious condominium features an oversized living area filled with natural light from large west-facing picture windows, offering charming peek-a-boo views of the downtown skyline and beautiful afternoon sunsets. The open and inviting floor plan provides plenty of room to relax, entertain, or create the perfect work-from-home space. Location is everything, and this home delivers. Situated just moments from The Promenade, The Pike Outlets, Rainbow Harbor, Shoreline Village, waterfront dining, entertainment, shopping, and public transit, you'll enjoy one of the most walkable and exciting neighborhoods in Long Beach. Whether you're exploring local art galleries, attending community events, or taking a stroll along the waterfront, the best of coastal urban living is right outside your door. Adding to the appeal, the building may qualify for conventional financing, potentially opening the door to more attractive financing options for qualified buyers, though buyers are encouraged to verify financing eligibility with their lender. Combining a desirable Downtown Long Beach location, generous living space, natural light, and exceptional value, this is an opportunity you won't want to miss.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.3 mi
Grades K-5 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 643 | 926 |
| Lot Size | 7,472 | 30,781 |
| Price | $299.9K | $514.8K |
| Price per sq ft | $466 | $568 |
| Built year | 1958 | 1979 |
| HOA | $252.0 | $475 |
| Days on market | 42 | 76 |
Jun 11, 2026
$299,900
Initial Listing
Dec 8, 2010
$95,000
Public Record