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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.
| DAYS ON MARKET | 215 | LAST UPDATED | 6/2/2025 |
|---|---|---|---|
| TRACT | Historic Rose Park | YEAR BUILT | 1959 |
| COMMUNITY | 3 - Eastside, Circle Area | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to May 12, '25 | $4,995,000 |
|---|---|
| May 12, '25 - Jun 2, '25 | $4,699,000 |
| Jun 2, '25 - Today | $4,499,000 |
| 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 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Based on information from California Regional Multiple Listing Service, Inc. as of 12/7/25 4:37 PM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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