2009 East 7th Street Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90804
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.
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