Pending

406 E 7th

Long Beach, CA 90813

$2,025,000 $8,537/Mo

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Overview

Bed

Bath

7,505

Sqft

7,506

Sqft(Lot)

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 dept h 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.

Property Details

Property Type : Residential Income

Price : $2,025,000

AD Id : 75224134

MLS Id : PW26013186

Lot Size : 7,506 Sqft

Living Area Size : 7,505

Year Built : 1908

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Water/Sewer

Water Source: Public Sewer: Public Sewer

Building Information

Year Built: 1908 Building Area Total: 7,505
Pool Features

None

Laundry Features

None

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1723
Lot Size Source: Assessor Lot Size Square Feet: 7506

Listing Price Information

Original List Price: 2,025,000 Listing Contract Date: 2026-02-11
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 7273028004

Rental Info

Lease Term: Negotiable Tenant Pays: Electricity,Gas

Other Property Info

Source Listing Status: Pending Source Neighborhood: 4 - Downtown Area, Alamitos Beach Directions: E. of Long Beach Blvd, W. of Linden Source Property Type: Residential Income Area: 4 - Downtown Area, Alamitos Beach Property SubType: Mixed Use
Building and Construction

Property Age: 118 Common Walls: 1 Common Wall Structure Type: Mixed Use Year Built Source: Assessor Entry Level: 1 Entry Location: 1 Property Attached: Yes

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1036 Cherry Avenue, Long Beach, CA, 90813	$2,350,000	10	--	4,722	4,722 SqFt
1081 Cherry Avenue, Long Beach, CA, 90813	$1,100,000	2	--	2,773	2,773 SqFt
1735 E 10th Street, Long Beach, CA, 90813	$3,047,700	22	--	10,253	10,253 SqFt
1050 Gaviota, Long Beach, CA, 90813	$4,500,000	--	--	12,928	12,928 SqFt
1419 E 15th, Long Beach, CA, 90813	$995,000	--	--	2,292	2,292 SqFt
933 Walnut Avenue, Long Beach, CA, 90813	$980,000	3	2	1,312	1,312 SqFt
1056 Hoffman, Long Beach, CA, 90813	$1,599,999	6	6	2,560	2,560 SqFt
1416 Orange, Long Beach, CA, 90813	$1,299,999	6	4	2,926	2,926 SqFt
1037 N Almond Court, Long Beach, CA, 90813	$789,000	2	1	1,224	1,224 SqFt
1310 E Hellman, Long Beach, CA, 90813	$1,725,000	--	--	5,735	5,735 SqFt

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ByOwner last updated this listing 06/11/2026 @ 17:27

MLS: PW26013186 LISTED BY: Juan Huizar, Sage Real Estate Group, Inc. 562-400-7622 SOURCE: CRMLS