CA > Long Beach > Historic Rose Park
Long Beach, CA 90804,2009 E 7th ST
Long Beach, CA 90804,2009 E 7th ST
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Kari Wheeler

Kari Wheeler

+1(530) 693-1777
$ 4,995,000
Est. payment | /mo

0.28 Acres Lot

Save
$ 4,995,000
Est. payment | /mo
Save

0.28 Acres Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Historic Rose Park

MLS Listing ID OC25101601

HOA Y/N No

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

Fireplace No

Laundry None

Exterior

Parking Features None

Pool None

Community Features Urban

Total Parking Spaces 8

Private Pool No

Building

Lot Description 36-40 Units/Acre

Story 2

Sewer Public Sewer, Sewer Tap Paid

Water Public

New Construction No

Others

Senior Community No

Tax ID 7262024021

Energy Description 2500.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Mike Marcu • Mike Marcu, Broker • 949 688 1224
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2009 E 7th ST