CA > Long Beach
Long Beach, CA 90804,2009 E 7th Street
$4,995,000
Est. payment /mo
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3 Beds
4 Baths
0.28 Acres Lot
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2009 E 7th Street Long Beach, CA 90804

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Jason Fogelman

Jason Fogelman

+1(858) 204-4262

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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

HOA Y/N No

Lot Size 0.280 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

This is a 26-unit value-add mixed-use offering in Long Beach. The two-building property, which totals approximately 17,730 square feet, is in the Historic Rose Park District on the northeast corner of 7th Street and Cherry Avenue. It comprises 8 retail spaces, one studio, 12 one-bedroom apartments, and 5 two-bedroom apartments. With approximately 20% rental upside to capture, with some renovations and operational improvements, the asking price of $4,995,000 presents an attractive stabilized capitalization rate exceeding 6% on a prime corner location.
This is a 26-unit value-add mixed-use offering in Long Beach. The two-building property, which totals approximately 17,730 square feet, is in the Historic Rose Park District on the northeast corner of 7th Street and Cherry Avenue. It comprises 8 retail spaces, one studio, 12 one-bedroom apartments, and 5 two-bedroom apartments. With approximately 20% rental upside to capture, with some renovations and operational improvements, the asking price of $4,995,000 presents an attractive stabilized capitalization rate exceeding 6% on a prime corner location.

Location

State CA

County Los Angeles

Area Long Beach (90804)

Zoning Assessor

Building

Story 2

Sewer Sewer Connected

Others

Monthly Total Fees $187

Acceptable Financing Cash

Space Rent $1,500

Listing Terms Cash

San Diego Regional MLS (SDMLS)
Listed by Mike Marcu • Mike Marcu, Broker

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agent

Jason Fogelman

Realtor / North County Regional Manager | CA DRE#01374456

+1(858) 204-4262

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