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This 26-unit mixed-use investment is located at the high-visibility corner of 7th Street and Cherry Avenue in the Historic Rose Park District of Long Beach"”a walkable, rapidly evolving area surrounded by strong retail demand and stable residential tenancy. The two-building property totals approximately 17,730 square feet and features 7 ground-floor retail suites and 19 apartment units, consisting of 1 studio, thirteen 1-bed/1-bath units, four 2-bed/1-bath units, and one 3-bed/1-bath unit. The diverse mix of units and commercial spaces creates multiple income streams and flexible leasing opportunities. With rents significantly below market, the asset offers an estimated 20-25% rental upside achievable through light renovations, management efficiencies, and targeted leasing. The retail spaces have historically maintained 85-90% occupancy, while residential rents present further upside potential. At the asking price, the property delivers a capitalization rate approaching 6%, and a market-adjusted return above 7.5%, once repositioned. This offering represents a rare chance to acquire a corner mixed-use property in one of Long Beach's most desirable submarkets"”combining immediate income, long-term appreciation, and substantial value-add potential.
Property Type(s):
Residential Income
| Last Updated | 12/24/2025 | Tract | Historic Rose Park |
|---|---|---|---|
| Year Built | 1959 | Community | 3 - Eastside, Circle Area |
| County | Los Angeles |
Price History
| Prior to May 12, '25 | $4,995,000 |
|---|---|
| May 12, '25 - Jun 2, '25 | $4,699,000 |
| Jun 2, '25 - Dec 24, '25 | $4,499,000 |
| Dec 24, '25 - Today | $4,250,000 |
Additional Details
| AREA | 3 - Eastside, Circle Area |
|---|---|
| LOT | 0.28 acre(s) |
| LOT DIMENSIONS | 12196 |
| PARKING | None |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Historic Rose Park |
| WATER | Public |
Location
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Listed with Mike Marcu, Broker
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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