2009 E 7th St & 710 Cherry Ave 2 Multifamily Properties Offered at $4,499,000 in Long Beach, CA

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.