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$ 4,250,000
Est. payment | /mo
6,516 SqFt
$ 4,250,000
Est. payment | /mo
6,516 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 6,516 sqft
Price per Sqft $652
MLS Listing ID CL26742463
HOA Y/N No
Year Built 1959
Lot Size 6,276 Sqft
Acres 0.1441
Property Sub-Type Comm Ind For Sale
Property Description
Exceptional value-add opportunity in one of Long Beach's most sought-after, walkable neighborhoods now enhanced by a highly attractive assumable loan at a favorable 4.58% interest rate, offering significant financing upside in today's market. This two-parcel mixed-use corner investment is prominently positioned at the high-visibility intersection of 7th Street and Cherry Avenue in the Historic Rose Park District, just minutes from the beach (approximately 10 minutes)a prime coastal location that continues to attract both residents and businesses.Long Beach is also set to take center stage as a major venue city for the 2028 Summer Olympics, hosting 11 Olympic events more than any city outside of Los Angeles . With global attention, infrastructure improvements, and increased tourism on the horizon, the area is poised for accelerated growth and long-term appreciation. The two-building portfolio features seven ground-floor commercial retail suites and nineteen residential apartments, delivering a diverse unit mix and multiple income streams. Established long-term tenants anchor both the commercial and residential components, providing immediate, predictable cash flow from day one. The retail spaces have historically maintained strong occupancy, while the residential units present additional upside through repositioning and rent growth. This is a rare opportunity to acquire a premier corner mixed-use asset in one of Long Beach's most desirable, high-demand submarkets combining in-place income, below-market assumable financing, proximity to the coast, and the powerful upside driven by the upcoming Olympics.
Location
State CA
County Los Angeles
Zoning LBCCA
Interior
Fireplace No
Building
Water Public
New Construction No
Others
Tax ID 7262024021
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Listed by Andrei Rafols • Beverly & Company Luxury Properties
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Patrick Nagel
REALTOR® | Lic# 1760790