2009 7th st, Long Beach, CA 90804
Active
$4,499,000
10%
26 Units
3 Beds
4 Baths
17,730 Area(sq.ft.)
Lot: 12,196 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | studio | 1 | No | $ 1,500 | $ 1,500 | $ 1,500 |
| Unit 2 | 13 | 1 | 1 | No | $ 18,955 | $ 18,955 | $ 21,540 |
| Unit 3 | 5 | 2 | 1 | No | $ 7,323 | $ 74,323 | $ 10,000 |
| Unit 4 | 7 | studio | 1 | No | $ 10,741 | $ 102,741 | $ 10,282 |
| 26 | 23 | 26 | $ 359,717 | $ 1,338,717 | $ 403,494 |
| MLS #: | OC25101601MR |
| Days On Market: | 215 |
| Listing Date: | May 5, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 254 |
| Price per unit: | $ 173,038 |
| Year Built: | 1959 |
Property Details
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.Interested in this Listing?
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Income Details
| Rent Control: | False |
| Gross Operating Income: | $ 422,073 |
| Total Annual Expense: | $ 161,376 |
| Net Operating Income: | $ 260,697 |
| Cap Rate: | 5.79% |
Structure
| Community Features: | Urban |
| Sewer: | In Street Paid, Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBCCA |
| Land Lease Type: | Fee |
| Parking Garage: | None |
Interior
| Laundry: | None |
Exterior
| Pool: | No |
Detailed Map
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