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.… Read More 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. Read Less
Property listed by Mike Marcu, Broker, Mike Marcu 949 688 1224
Listing Snapshot
Days Online
26
Last Updated
Property Type
Apartment
Lot Size
0.28 Acres
Year Built
1959
MLS Number
OC25101601
Additional Details
Building
Built in 1959, Building area total: 17,730, 2 buildings, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Urban
Expenses
Electric expense: $4,000, Fuel expense: $2,500, Insurance expense: $8,412, Maintenance expense: $20,300, New taxes expense: $58,737, Operating expense: $163,988, Supplies expense: $5,025, Trash expense: $5,585, Water sewer expense: $8,500, Other expense: $18,500
Based on information from California Regional Multiple Listing Service, Inc. as of 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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