1825 Cherry Avenue, Long Beach
Long Beach Home For Sale
***Opportunity Zone***Explore the exceptional investment opportunity at 1825 Cherry Ave, Long Beach, CA. This property comprises seven fully occupied apartments in the sought-after prime area of Long Beach, offered at an attractive price of $200k per unit. Monthly gross rent = $8,930 + $953 average utilities paid by the tenants total income $9,883 per month. 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% (CPI + 5%), 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) 1 Bedrooms and (2) Studios apartments. 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.
Property Details
Additional Information
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- City:
- Long Beach
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- County:
- Los Angeles
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- Zip:
- 90806
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- MLS® #:
- 24362089
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- Bedrooms:
- 3
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- Bathrooms:
- 3
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- Square Ft:
- 3,986
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- Lot Size:
- 0.13
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- Levels:
- Two, Multi/Split
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- Garages:
- 1
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- School District:
- Long Beach Unified
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- HOA Dues:
- $
Price Change History for 1825 Cherry Avenue, Long Beach, (MLS® #24362089)
Date | Details | Price | Change |
---|---|---|---|
Price Reduced (from $1,550,000) | $1,400,000 | $150,000 (9.68%) |
Based on information from California Regional Multiple Listing Service, Inc. as of August 24th, 2024 at 12:25pm PDT. 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.