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$ 4,499,000
Est. payment /mo
Active
2009 E 7th Street Long Beach, CA 90804
3 Beds
0.28 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25101601
Bedrooms 3
Lot Size 0.280 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
This 26-unit mixed-use investment is located at the high-visibility corner of 7th Street and Cherry Avenue in the Historic Rose Park District of Long Beacha walkable, rapidly evolving area surrounded by strong retail demand and stable residential tenancy. The two-building property totals approximately 17,730 square feet and features 7 ground-floor retail suites and 19 apartment units, consisting of 1 studio, thirteen 1-bed/1-bath units, four 2-bed/1-bath units, and one 3-bed/1-bath unit. The diverse mix of units and commercial spaces creates multiple income streams and flexible leasing opportunities. With rents significantly below market, the asset offers an estimated 2025% rental upside achievable through light renovations, management efficiencies, and targeted leasing. The retail spaces have historically maintained 8590% occupancy, while residential rents present further upside potential. At the asking price, the property delivers a capitalization rate approaching 6%, and a market-adjusted return above 7.5%, once repositioned. This offering represents a rare chance to acquire a corner mixed-use property in one of Long Beachs most desirable submarketscombining immediate income, long-term appreciation, and substantial value-add potential.
Location
State CA
County Los Angeles
Zoning Assessor
Direction NEC 7th Street & Cherry Avenue
Interior
Fireplace No
Exterior
Utilities Available Sewer Connected
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 7262024021
Listed by Mike Marcu Mike Marcu, Broker