$3,975,000 - 6501 Cherry Avenue, Long Beach

  • 0Beds
  • Baths
  • 0SQ. Feet
  • 0.25Acres

Offering a strong current capitalization rate of 5.18% at the asking price this property lines up well with todays interest rates. Featuring 10 one bedroom and 6 two bedroom apartment units, this 16 unit building in Long Beach is situated in the middle of a dynamic area. Recent favorable zoning changes, in the 90805 zip code, the city of Long Beach has set the stage for substantial developements over the next 5 to 10 years. Paving the way for strong local job growth. In addition, the property is within the shere of influence of the Ports of Long Beach and Los Angeles. The building is clean and offers rental upside.

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Sales Agent

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

Essential Information

  • MLS® #:OC22239480
  • Price:$3,975,000
  • Bathrooms:0.00
  • Acres:0.25
  • Year Built:1961
  • Type:Residential Income
  • Sub-Type:Apartment
  • Status:Closed
  • Listing Agent:Mike Marcu
  • Listing Office:Mike Marcu, Broker

Community Information

  • Address:6501 Cherry Avenue
  • Area:7 - North Long Beach
  • Subdivision:North Long Beach (NLB)
  • City:Long Beach
  • County:Los Angeles
  • Zip Code:90805

Amenities

  • Parking Spaces:10
  • Parking:Assigned
  • # of Garages:5
  • Garages:Assigned
  • Pool:None

Exterior

  • Lot Description:16-20 Units/Acre

Additional Information

  • Date Listed:November 10th, 2022
  • Days on Market:257
  • Zoning:LBCCA

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Based on information from California Regional Multiple Listing Service, Inc. as of April 20th, 2024 at 8:55am 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.