2
See all 2 photos
Listed by Mike Marcu • Mike Marcu, Broker
$4,499,000
Est. payment /mo
17,730 SqFt
Active
2009 East 7th Street Long Beach, CA 90804
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 17,730 sqft
Price per Sqft $253
MLS Listing ID OC-25101601
Year Built 1959
Lot Size 0.280 Acres
Property Sub-Type Apartment
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.
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 3 - Eastside, Circle Area
Zoning LBCCA
Interior
Laundry None
Exterior
Parking Features None
Pool None
Community Features Urban
Building
Lot Description 36-40 Units/Acre
Sewer Public Sewer, Sewer Paid
GET MORE INFORMATION
