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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.
Property Type(s):
Residential Income
| Last Updated | 5/7/2025 | Tract | Historic Rose Park |
|---|---|---|---|
| Year Built | 1959 | Community | Eastside, Circle Area |
| County | Los Angeles |
Additional Details
| AREA | Eastside, Circle Area |
|---|---|
| GARAGE | None |
| HOA DUES | 0 |
| LOT | 0.28 acre(s) |
| LOT DESCRIPTION | 36-40 Units/Acre |
| PARKING | None |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer,Sewer Tap Paid |
| STORIES | 2 |
| SUBDIVISION | Historic Rose Park |
| WATER | Public |
| ZONING | LBCCA |
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.
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