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1825 Cherry Avenue Long Beach, CA $ 1,550,000
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$ 1,550,000 Get more info
1825 Cherry Avenue
$ 1,550,000
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1825 Cherry Avenue

Long Beach, CA, 90806
$ 1,550,000
Bedrooms7 Baths5.0 Sq 3,986

Monthly Estimate*

$ 10,827

Listed by Wiggs & Associates
1825 Cherry Avenue, Long Beach, CA 90806 - Image 1
1825 Cherry Avenue, Long Beach, CA 90806 - Image 2
1825 Cherry Avenue, Long Beach, CA 90806 - Image 3
1825 Cherry Avenue, Long Beach, CA 90806 - Image 4
1825 Cherry Avenue, Long Beach, CA 90806 - Image 5
1825 Cherry Avenue, Long Beach, CA 90806 - Image 6

Multi-Family Home for sale in Long Beach, CA

for $1,550,000 with 7 bedrooms and 5 full baths. This 3,986 square foot home was built in 1903 on a lot size of 0.134.

***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.

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Multi-Family Active

Price

$ 1,550,000

Bedrooms

7

Full Bath

5

Property Type

Multi-Family

Taxes

$ 0

Style

Spanish

Lot Size

0.134

Year Built

1903

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

24362089

Days on Market

64
Features
General
Sewer SewerTapPaid
Heating NaturalGas
Cooling None
Utilities OverheadUtilities
Possession CloseOfEscrow
Appliances GasOven GasRange Refrigerator
Zoning LBCNR
Garage Spaces 1.0
Patio/Porch Features RearPorch FrontPorch Porch Rooftop
Architectural Style Spanish
Pool Features None
Security Features GatedCommunity WindowBars
Construction Materials Stucco
Year Built 1903
Tenant Pays Electricity Gas TrashCollection Water
View None
Stories 2
Levels Two MultiSplit
Gross Income 1242.0
Community Features Gated
County Los Angeles
Net Operating Income 82925.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Facing Direction East
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Buyer Financing Cash
Directions 405FWY Cherry Ave South
City Long Beach
Entry Location Ground Level w/steps
View Y/N N
Senior Community Y/N N
High School District Long Beach Unified
Open Parking Spaces 6.0
Total Units 7
MLS Area 9 - Poly High
Lot Size Square Feet 5838.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Cherry
Spa Features None
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Property Condition RepairsCosmetic UpdatedRemodeled
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 8
Standard Status Active
Cap Rate 5.35
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Interior
Flooring Tile Wood
Fireplace Features None
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Avenue
Laundry Features None
Total Bedrooms 7
Electric On Property Y/N N
Total Baths 5
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Exterior
Parking Features Driveway
Total Parking 7.0
Lot Size Area 5838.0
Foundation Details Raised Slab
Number of Buildings 2
Spa N
Building Area Total 3986.0
Lot Dimensions 50 x 130
Lot Size Acres 0.134
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 1825
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* Excluded Features
List By
Wiggs & Associates

Broker

(213) 446-2494

Phone

Affordability Calculator

$10,827
Per Month
100%
0%
0%
Monthly Principal & Interest
$10,827
Monthly Property Taxes
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Monthly Home Insurance
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Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
279251 Elementary School
277356 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
2/27/2024$1,550,000 Listed Price

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1825 Cherry Avenue, Long Beach, CA, 90806 is a Multi-Family Home for sale at $1,550,000 with 3,986 sqft and a lot size of 0.134. 1825 Cherry Avenue has 7 bedrooms, 5.0 baths, and was built in 1903. The property's zip code is 90806 which is in Long Beach, CA

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