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.
17,730 Sq Ft
0.28 Private Acres Exterior Space
Apartment
Built in 1959
MLS/Listing ID OC25101601
26 Units
Community - Urban
Listing Courtesy of MIKE MARCU, BROKER, MIKE MARCU - 949-688-1224
Source of Data: CALIFORNIA REGIONAL MULTIPLE LISTING SERVICE
TOTAL MONTHLY COST
-
-
-