Long Beach, CA 90813 1715 Cherry Avenue
$1,425,000
Pending
16 more
Presented By: Aspen Labrador with Compass; 949-463-9892
Beds • 1
Baths • 1
SQFT • 3,426
Garage • 4
Year Built • 1949
Home Details
1715 Cherry Avenue is a 6-unit multifamily property located in the highly sought-after Long Beach Market of Los Angeles County. The property features a mix of unit configurations, including (1) 2-bedroom, 1-bath unit, and (5) 1-bedroom, 1-bath units. The property offers a fully stabilized investment opportunity with strong cash flow and immediate returns from day one. Residents benefit from the array of dining, shopping, and entertainment options along Cherry Avenue, as well as convenient access to major freeways and key job markets. Given the ongoing shortage of apartment housing and the rising cost of single-family homes in Southern California, Cherry Avenue offers long-term growth for savvy investors.
**ASSUMABLE LOAN AVAILABLE @ 3.42% through December of 2026, inquire for details**
Presented By: Aspen Labrador with Compass; 949-463-9892
Interior Features for 1715 Cherry Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore, NoOneAbove, NoOneBelow
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories1
Other Rooms
Entry Level1
General for 1715 Cherry Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.61
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs
CountyLos Angeles
DirectionsEast 17th Street & Cherry Avenue
Electric Expense20.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense15.0
Garage Spaces4.0
Garage Y/NYes
Gross Income120288.0
HOANo
Home Warranty Y/NNo
Insurance Expense3769.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Listing TermsCash, CashToExistingLoan, CashToNewLoan, Exchange1031
Lot Size Square Feet8240.0
Lot Size UnitsSquareFeet
MLS Area3 - Eastside, Circle Area
MaintenanceExpense4800.0
MobileHomeRemainsYNNo
Net Operating Income85501.0
New ConstructionNo
Number Of Units Total6
Number of Units Leased5
Operating Expense35987.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubtypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Stories1
Subdivision NameCircle (CA)
Tax Lot33
Taxes$20,146
Tenant PaysElectricity, Gas
Trash Expense75.0
Water Sewer Expense100.0
Waterfront Y/NNo
Year Built1949
Year Built SourcePublicRecords
ZoningLBCNR
Exterior for 1715 Cherry Avenue
Building Area Total3426.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSixToTenUnitsAcre
Lot Size Acres0.1892
Lot Size Area8240.0
Lot Size SourcePublicRecords
Number of Buildings2
Number of Separate Electric Meters6
Number of Separate Gas Meters6
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking4.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
