Beverly & Co
Real Brokerage Technologies
Listed by Beverly & Co, Real Brokerage Technologies
$4,250,000
2009 E 7th Street & 710 Cherry Avenue
Details
APN 7262-024-021
Property Type Retail, Multifamily
Sub Type Storefront, Apartment Building
Units 26
Cap Rate 5.99%
NOI $254,775
Occupancy 96.2%
Tenancy Multi
Brand/Tenant Soggy Dog, Tobacco Shop
Pro-Forma Cap Rate 7.50%
Pro-Forma NOI $310,000
Price per SqFt $240
Year Built 1959
Buildings 2
Stories 2
Lot Size (SqFt) 6,276
Zoning LBCCA
Parking Spaces 8 spaces
Investment Type Value Add
Occupancy Date 04/30/2026
2009 E 7th Street, Long Beach, CA 90804
Marketing description
Exceptional value-add opportunity in one of Long Beach's most sought-after and walkable neighborhoods. This two-parcel mixed-use corner investment sits at the high-visibility intersection of 7th Street and Cherry Avenue in the Historic Rose Park District -- a rapidly evolving submarket with strong retail demand and stable residential tenancy.
The two-building portfolio features seven ground-floor commercial retail suites and nineteen residential apartments offering a diverse mix of unit types and multiple income streams. With rents significantly below market, the asset presents an estimated 20 to 25 percent rental upside achievable through targeted leasing and management efficiencies. No rent control.
Investment highlights
- Corner location -- NEC 7th Street & Cherry Avenue, Long Beach
- 26 units across two parcels -- 7 commercial + 19 residential
- Rents 20-25% below market with no rent control
- One vacant unit -- immediate lease-up upside
- Stabilized return above 7.5% upon repositioning
- Walk Score 97 -- highly walkable urban submarket
- Cash or cash to new loan -- seller concessions available
Listing Contacts
Beverly & Co
Real Brokerage Technologies
Listed by Beverly & Co, Real Brokerage Technologies
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$254,775.00
$21,231.25/mo
Valuation Metrics
0
DSCR
5.99%
Cap Rate
5.99%
ROI
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