$1,400,000 - 6759 Cherry Avenue, Long Beach

  • 0Beds
  • Baths
  • 0SQ. Feet
  • 0.10Acres

What an amazing opportunity for that investor looking for a profitable multi-unit property. Location is key when looking for a profitable investment such as this 7 unit property conveniently located by 91 and 710 freeways. Directly across the street from anchor commercial retail tenants stores such Target, Food For Less, Taco Bell, Wing stop, Gas Station, etc... All great long-term tenants with significant 25%+ rent increase potential. Breakdown of 7-unit apartment consists of 4 units 1 bedroom/1baths and 3 studio units. One of the 3 studios is much bigger, featuring a large kitchen with a small breakfast area, and more sqft. Two separate buildings with all separate individual gas and individual electric meters. Also, additional extra monthly income with onsite coin operated laundry (less than 1-year old commercial front loader washer and 3-year-old commercial dryer). Tenants really appreciate the convenience of onsite laundry. Apartment well maintained with many recent upgrades such as Bradford White water boilers, energy efficient dual pane vinyl windows for all 7 units, new copper plumbing for all units along with new main waste water line to City water line. An easy to maintain investment property with strong consistent cash flow. Do you math, this property is priced at approx. $200K price per unit.

Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:DW21251206
  • Price:$1,400,000
  • Bathrooms:0.00
  • Acres:0.10
  • Year Built:1958
  • Type:Residential Income
  • Sub-Type:Mixed Use
  • Status:Active

Community Information

  • Address:6759 Cherry Avenue
  • Area:7 - North Long Beach
  • Subdivision:North Long Beach (NLB)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90805

Amenities

  • Parking:Driveway, Assigned
  • Garages:Driveway, Assigned
  • Pool:None

Interior

  • Heating:Wall Furnace
  • Cooling:Wall/Window Unit(s)
  • Fireplace:Yes
  • Fireplaces:None
  • # of Stories:2
  • Stories:Two

Exterior

  • Lot Description:0-1 Unit/Acre

Additional Information

  • Date Listed:November 17th, 2021
  • Days on Market:156
  • Zoning:LBCCA
  • HOA Fees:0.00

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Provided By: Chuck Chavez, Century 21 Allstars.

Based on information from California Regional Multiple Listing Service, Inc. as of May 21st, 2022 at 8:05pm 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.