2009 E 7th Street, Long Beach, CA 90804

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Kobe Zimmerman

Berkshire Hathaway Home Services California Properties

kobezimmerman@bhhscal.com +1(858) 753-3353

$4,499,000

Est. payment - /mo

3 Beds

4 Baths

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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

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.

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

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Listed by Mike Marcu Mike Marcu, Broker

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2009 E 7th Street Long Beach, CA 90804