Long Beach, CA 90804 2009 E 7th Street
$4,499,000
Presented By: Mike Marcu with Mike Marcu, Broker; 949 688 1224
- MLS# OC25101601
- 05/07/2025
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 23
Baths • 4
SQFT • 17,730
Home Details
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.
Presented By: Mike Marcu with Mike Marcu, Broker; 949 688 1224
Interior Features for 2009 E 7th Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Total Stories2
Other Rooms
Entry Level1
General for 2009 E 7th Street
Additional Parcels Description726202420
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.79
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
CountyLos Angeles
DirectionsNEC 7th Street & Cherry Avenue
Electric Expense4000.0
Entry Location1
Fuel Expense2500.0
Garage Spaces0.0
Garage Y/NNo
Gross Income0.0
HOANo
HOA Fee$0.0
Home Warranty Y/NNo
Insurance Expense8412.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet12196.0
Lot Size UnitsSquareFeet
MLS Area3 - Eastside, Circle Area
Maintenance Expense20300.0
MobileHomeRemainsYNNo
Net Operating Income260697.0
New ConstructionNo
Number Of Units Total26
Open Parking Spaces8.0
Operating Expense161376.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer, SewerTapPaid
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Subdivision NameHistoric Rose Park
Tax Lot20
Taxes$56,125
Tenant PaysElectricity
Trash Expense5585.0
Water Sewer Expense8500.0
Year Built1959
Year Built SourceAssessor
ZoningLBCCA
Exterior for 2009 E 7th Street
Building Area Total17730.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesThirtySixToFortyUnitsAcre
Lot Size Acres0.28
Lot Size Area12196.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters27
Number of Separate Gas Meters10
Number of Separate Water Meters2
Parking FeaturesNone
Private PoolNo
SpaNo
Total Parking8.0
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Hal Schlegel
Broker Associate