2
See all 2 photos
$4,499,000
Est. payment /mo
3 Beds
4 Baths
Price Dropped by $200K
2009 E 7th Street Long Beach, CA 90804
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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
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
Listed by Mike Marcu Mike Marcu, Broker