2009 E 7th St Long Beach, CA 90804
Hellman NeighborhoodEstimated payment $24,492/month
Highlights
- 0.28 Acre Lot
- No HOA
- Laundry Room
- Woodrow Wilson High School Rated A
About This Home
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.
Listing Agent
Mike Marcu, Broker Brokerage Phone: 949 688 1224 License #00919594 Listed on: 05/07/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1959
Lot Details
- 0.28 Acre Lot
- Two or More Common Walls
- Density is 36-40 Units/Acre
- 726202420,
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 17,730 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 5 Bathrooms
Laundry
- Laundry Room
- Leased Washer and Dryer
Parking
- 8 Open Parking Spaces
- 8 Parking Spaces
Additional Features
- Urban Location
- Sewer Paid
Listing and Financial Details
- Tax Lot 20
- Tax Tract Number 24
- Assessor Parcel Number 7262024021
- $2,252 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 26 Units
Amenities
- Laundry Facilities
Building Details
- 27 Separate Electric Meters
- 10 Separate Gas Meters
- 2 Separate Water Meters
- Electric Expense $4,000
- Fuel Expense $2,500
- Insurance Expense $8,413
- Maintenance Expense $25,650
- Other Expense $26,310
- Professional Management Expense $37,232
- Supplies Expense $5,025
- Trash Expense $5,585
- Water Sewer Expense $8,215
- New Taxes Expense $62,478
- Operating Expense $180,383
- Gross Income $1,200
- Net Operating Income $247,830
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $25,900 | $1,937,133 | $810,578 | $1,126,555 |
| 2024 | $25,900 | $1,899,151 | $794,685 | $1,104,466 |
| 2023 | $25,440 | $1,861,913 | $779,103 | $1,082,810 |
| 2022 | $23,897 | $1,825,406 | $763,827 | $1,061,579 |
| 2021 | $23,383 | $1,789,614 | $748,850 | $1,040,764 |
| 2020 | $22,631 | $1,715,260 | $714,000 | $1,001,260 |
| 2019 | $22,363 | $1,681,660 | $700,000 | $981,660 |
| 2018 | $18,571 | $1,385,392 | $572,220 | $813,172 |
| 2017 | $18,371 | $1,356,600 | $561,000 | $795,600 |
| 2016 | $4,526 | $242,778 | $128,131 | $114,647 |
| 2015 | $4,384 | $239,132 | $126,207 | $112,925 |
| 2014 | $4,360 | $234,448 | $123,735 | $110,713 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/24/2025 12/24/25 | Price Changed | $4,250,000 | -5.5% | $240 / Sq Ft |
| 06/02/2025 06/02/25 | Price Changed | $4,499,000 | -4.3% | $254 / Sq Ft |
| 05/12/2025 05/12/25 | Price Changed | $4,699,000 | -5.9% | $265 / Sq Ft |
| 05/07/2025 05/07/25 | For Sale | $4,995,000 | -- | $282 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $3,965,000 | Fidelity National Title | |
| Grant Deed | $3,150,000 | Fidelity National Title Co | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Grant Deed | -- | Stewart Title | |
| Gift Deed | -- | -- | |
| Gift Deed | -- | -- | |
| Gift Deed | -- | -- | |
| Corporate Deed | $175,000 | South Coast Title | |
| Trustee Deed | $169,787 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $220,000 | Commercial | |
| Open | $2,380,000 | Commercial | |
| Previous Owner | $2,430,000 | Seller Take Back | |
| Previous Owner | $140,000 | Commercial |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC25101601
APN: 7262-024-021
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Based on information from California Regional Multiple Listing Service, Inc. 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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