$1,550,000 - 1825 Cherry Avenue, Long Beach
- 3Beds
- 3Baths
- 3,986SQ. Feet
- 0.13Acres
***Opportunity Zone***Explore the exceptional investment opportunity at 1825 Cherry Ave, Long Beach, CA. This property comprises seven fully occupied buildings in the sought-after prime area of Long Beach, offered at an attractive price of $221k per unit. Currently, the property yields an impressive 5.35% Cap Rate and boasts a 15 Gross Rent Multiplier (GRM), with potential for substantial growth to a projected 9.96% Cap Rate and 9.96 GRM.Situated on a generous lot of approximately 5,837 SF, the property provides ample parking spaces for convenience. Notably, this asset is not subject to LA City rent control, allowing for significant annual rent increases of 8.8% (5% + CPI), offering substantial future upside potential.Conveniently located in prime Long Beach, just moments away from Signal Hill and a short drive to downtown Long Beach, this property presents a prime investment opportunity in a thriving and desirable location. 2 Structures - Front House has been divided into 3 Units. Rear structure consists of 2 Studios and 2-1 BR Units. Upside in Rents. All Utilities are split and paid for by Tenants. Close proximity to busy PCH/Cherry intersection. Among recent upgrades is a Fire Sprinkler system.
Sales Agent
Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent NowEssential Information
- MLS® #:24362089
- Price:$1,550,000
- Bedrooms:3
- Bathrooms:3.00
- Square Footage:3,986
- Acres:0.13
- Year Built:1903
- Type:Residential Income
- Style:Spanish
- Status:Active
- Listing Agent:Royce Jefferson
- Listing Office:Wiggs & Associates
Community Information
- Address:1825 Cherry Avenue
- Area:9 - Poly High
- City:Long Beach
- County:Los Angeles
- Zip Code:90806
Amenities
- Utilities:Overhead Utilities
- Parking Spaces:7
- Parking:Driveway
- # of Garages:1
- Garages:Driveway
- View:None
- Pool:None
Interior
- Interior:Tile, Wood
- Appliances:Gas Oven, Gas Range, Refrigerator
- Heating:Natural Gas
- Cooling:None
- Fireplaces:None
- # of Stories:2
- Stories:Two, Multi/Split
Exterior
- Exterior:Stucco
- Construction:Stucco
- Foundation:Raised, Slab
School Information
- District:Long Beach Unified
Additional Information
- Date Listed:February 26th, 2024
- Days on Market:61
- Zoning:LBCNR
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Similar Neighborhoods in Long Beach, California
Back to ResultsWrigley Area (wr)
- City:
- Long Beach
- Price Range:
- $789,888 - $1,500,000
- Current Listings:
- 4
- HOA Dues:
- $0
- Average Price per Square Foot:
- $
Westside/north Of Willow (wnw)
- City:
- Long Beach
- Price Range:
- $1,250,000 - $1,555,000
- Current Listings:
- 3
- HOA Dues:
- $0
- Average Price per Square Foot:
- $
Poly High (ph)
- City:
- Long Beach
- Price Range:
- $675,000 - $2,400,000
- Current Listings:
- 6
- HOA Dues:
- $0
- Average Price per Square Foot:
- $
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Based on information from California Regional Multiple Listing Service, Inc. as of April 28th, 2024 at 12:31am CDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.