CA > Long Beach
Long Beach, CA 90813,1036 Cherry Ave
Long Beach, CA 90813,1036 Cherry Ave
Long Beach, CA 90813,1036 Cherry Ave
15
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$2,595,000
Est. payment /mo
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10 Beds
8 Baths
4,722 SqFt
New

1036 Cherry Ave Long Beach, CA 90813

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Megan Vernia

Megan Vernia

+1(425) 350-2089

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,722 sqft

Price per Sqft $549

MLS Listing ID 25628703

Style Traditional

Bedrooms 10

Construction Status Updated/Remodeled

Year Built 1921

Lot Size 5,844 Sqft

Acres 0.1342

Property Sub-Type Multi-Family

Property Description

8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6.1% from day 1! Excellent unit mix of 1 (3bed/1bath) unit and 7 (1bed/1bath) units including 2 brand-new attached ADUs. Several units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash, further minimizing the operating expenses. Non-LA-City rent controlled asset allowing significant 8% annual rent increases (5%+CPI) for future upside. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Location

State CA

County Los Angeles

Area Eastside, Circle Area

Zoning LBR2N

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Ceiling Fan

Equipment None

Exterior

Parking Features None

Building

Story 2

Architectural Style Traditional

Level or Stories Two

Construction Status Updated/Remodeled

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Global Platinum Properties, Inc.

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Megan Vernia

Megan Vernia

Agent | RE.s.0191820

+1(425) 350-2089

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1036 Cherry Ave