Description
Introducing 406-420 E 7th Street and 652-654 Elm Avenue, Long Beach, CA 90813, a rare three-building, eight-unit mixed-use property located at the corner of 7th Street and Lime Avenue. The property consists of five residential units and three commercial units spread across three separate detached structures, providing a well-diversified income stream. The unit mix includes a detached 2-bedroom, 1-bathroom single-family bungalow at 420 E 7th Street, a mixed-use building at 412 E 7th Street containing three ground-floor retail units with two second-story apartments, and a two-story residential duplex at 652-654 Elm Avenue with one unit upstairs and one downstairs. The property is zoned LBPD-30 and offers excellent visibility with 150 feet of frontage along E 7th Street and 50 feet of depth along both Linden and Elm Avenues. Located on the border of the East Village Arts District, the property benefits from strong walkability and close proximity to downtown Long Beach restaurants, retail, nightlife, cultural attractions, public transportation, and major employment centers. The property is located within the LBPD-30 Downtown Planned Development Zone, which is intended to encourage higher-density, mixed-use redevelopment and provides flexibility for future development potential, subject to City of Long Beach approvals. Financial highlights include actual gross annual income of $201,576 and a Gross Rent Multiplier (GRM) of 10.05, with potential upside through rental growth and strategic management. Due to the mixed-use nature of the asset, the property will qualify for commercial financing, typically requiring approximately 30% down payment for qualified buyers. With multiple detached buildings, diversified income streams, redevelopment potential, and a prime corner location, this property represents a compelling opportunity for investors seeking stable cash flow and long-term appreciation.
Details
| MLS # | PW26189345 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1908 |
| Days On Site | 7 |
| Listing Provided By | Sage Real Estate Group, Inc. | Juan Huizar |
Features
| SQ Feet | 7,505 |
|---|---|
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 3 |
| Acreage | 0.17 |
Exterior
| Lot Features | Six To Ten Units Acre, Street Level |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | n/a |
| Listing VS Median (in n/a) | |
Price: $1,850,000 low | high Med: $838,000 sqft: 7,505 low | high Med: 1,302 $ / sqft: $247 low | high Med: $644 On site: 7 low | high Med: 58 | |
Market Activity 90813
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | n/a |
| Listing VS Median (in n/a) | |
Price: $1,850,000 low | high Med: $838,000 sqft: 7,505 low | high Med: 1,302 $ / sqft: $247 low | high Med: $644 On site: 7 low | high Med: 58 | |
 | $2,155,000727 Olive AvenueLong Beach, CA 90813 |
 | $3,850,000154 Elm AvenueLong Beach, CA 90802 |
 | $1,850,000833 CedarLong Beach, CA 90813 |
 | $1,850,000833 CedarLong Beach, CA 90813 |