Mixed-Use Corner
For Sale
$3,999,999
2009 7th Street, Long Beach, CA 90804
Two-parcel corner mixed-use property with seven ground-floor retail suites and nineteen residential apartments.
Property Size6,516 SF
Price / SF$613.87
Days on Market134
Property Features for 2009 7th Street
General Information
Standard status
Active
Size
6,516 SF
Property subtype
General Commercial
Additional Details
Multifamily Units
19
Amenities
3
Building Details
Year Built
1959
Listing Agency:
Beverly & Company Luxury Properties
(323) 410-0848
Listed By:
Andrei Rafols · License #02020881
Source:
Xome
Added: Apr 13
Changed: Aug 23
Last Checked: Aug 24 at 3:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Beverly & Company Luxury Properties
Investment Insights
Based on property information with market context.
This two-parcel mixed-use corner investment includes seven ground-floor commercial retail suites and nineteen residential apartments. The property is described as having established long-term tenants anchoring both the commercial and residential components.
The asset is prominently positioned at the high-visibility intersection of 7th Street and Cherry Avenue in the Historic Rose Park District, at 2009 E 7th St, Long Beach, CA, with proximity to the beach noted as approximately 10 minutes.
The offering is presented as an assumable loan opportunity, with terms cited at a 4.58% interest rate. Public remarks also note Long Beach’s selection as a major venue city for the 2028 Summer Olympics, including hosting 11 Olympic events.
The asset is prominently positioned at the high-visibility intersection of 7th Street and Cherry Avenue in the Historic Rose Park District, at 2009 E 7th St, Long Beach, CA, with proximity to the beach noted as approximately 10 minutes.
The offering is presented as an assumable loan opportunity, with terms cited at a 4.58% interest rate. Public remarks also note Long Beach’s selection as a major venue city for the 2028 Summer Olympics, including hosting 11 Olympic events.
Key Highlights
- Two‑parcel corner mixed‑use property at the intersection of 7th Street and Cherry Avenue (Historic Rose Park District).
- Income mix includes seven ground‑floor retail suites and nineteen residential apartments.
- Established long‑term tenants in both commercial and residential components for immediate, predictable cash flow.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$124,609
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,492,180
$2.5M
Cap Rate 7%
$1,780,129
$1.8M
Cap Rate 9%
$1,384,544
$1.4M
Market Conditions
NOI Build-Up for 6,516 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$238.5K $36.60/SF
− Vacancy
−$11.9K −$1.83/SF
EGI
$226.6K $34.77/SF
− OpEx
−$102.0K −$15.65/SF
NOI
$124.6K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,492,180
Cap Rate 7%
$1,780,129
Cap Rate 9%
$1,384,544
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,609 @ 7.0% cap · market cap 3.12%
Second Best
Mixed Use
$1.62M
$1.42M – $1.89M
NOI $113,623 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,205 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19
Residential units
Location Intelligence
Trade Area within ½ mile
2,089
Businesses Nearby
Explore this area
Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-parcel corner mixed-use property with seven ground-floor retail suites and nineteen residential apartments.
Where is this apartment building located?
The property is located at 2009 7th Street Long Beach, CA.
What is the asking price?
The asking price for this property is $3,999,999.
What are key features of this property?
This property features: Two‑parcel corner mixed‑use property at the intersection of 7th Street and Cherry Avenue (Historic Rose Park District).; Income mix includes seven ground‑floor retail suites and nineteen residential apartments.; Established long‑term tenants in both commercial and residential components for immediate, predictable cash flow.
