Long Beach, CA 90813 1615 Cherry Avenue
$1,185,000
Pending
Presented By: Steven Richardson with Y Realty; 213-344-7856
Beds • 2
Baths • 1
SQFT • 3,546
Garage • 2
Year Built • 1949
Home Details
Investment Opportunity: Spacious 4-Unit Building in the Heart of an Up-and-Coming Neighborhood!
Welcome to your next apartment investment located just south of Signal Hill and within a short 2-mile radius of the stunning beaches. This prime property offers not only a sought-after location but also incredible potential for growth in an area currently undergoing rezoning for additional apartment density.
Key Features:
- Unit Mix: This well-maintained building consists of 4 units, featuring 1 expansive 3-bedroom apartment and 3 comfortable 2-bedroom apartments. The generous unit sizes are a standout feature, providing tenants with ample space and modern living comfort.
Nestled in the vibrant and up-and-coming neighborhood, this property is strategically positioned for optimal access to both the bustling city life and the tranquil beachfront. Residents can enjoy the best of both worlds.
Presented By: Steven Richardson with Y Realty; 213-344-7856
Interior Features for 1615 Cherry Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringCarpet, Laminate, Tile
Heating Y/NYes
Interior AmenitiesCeilingFans, LaminateCounters, OpenFloorplan, TileCounters, AllBedroomsDown
Laundry FeaturesCommonArea
Total Stories1
Other Rooms
Entry Level1
General for 1615 Cherry Avenue
AccessibilityLowPileCarpet, NoStairs, Parking, AccessibleDoors, AccessibleHallways
Additional Parcels Y/NNo
AppliancesDisposal, GasRange, GasWaterHeater, Microwave, Refrigerator, RangeHood, SelfCleaningOven, WaterHeater
Architectural StyleContemporary
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate3.5
Carport Y/NNo
CityLong Beach
Community FeaturesStreetLights, Sidewalks, Gated
Construction MaterialsDrywall
CoolingNone
CountyLos Angeles
Current FinancingConventional
Directions405 South to Cherry Ave South to Pacific Coast Highway
ElectricElectricityOnProperty
Electric Expense0.0
Electric On Property Y/NNo
Entry LocationGround Floor
Fuel Expense0.0
Garage Spaces2.0
Garage Y/NYes
Gross Income2400.0
HOANo
HeatingNaturalGas
Home Warranty Y/NNo
Insurance Expense400.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Listing TermsCashToExistingLoan, CashToNewLoan, OwnerMayCarry
Lot Size Square Feet7290.0
Lot Size UnitsSquareFeet
MLS Area8 - Signal Hill
MobileHomeRemainsYNNo
Net Operating Income58995.0
New ConstructionNo
Number Of Units Total4
Number of Units Leased4
Operating Expense19665.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Security FeaturesCarbonMonoxideDetectors, FireDetectionSystem, GatedCommunity, SmokeDetectors
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Stories1
Subdivision Namenone
Tax Lot12
Total Actual Rent6900.0
Trash Expense200.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected
ViewCityLights
Water Sewer Expense550.0
Waterfront Y/NNo
Year Built1949
Year Built SourceAssessor
ZoningLBCNR
Exterior for 1615 Cherry Avenue
Building Area Total3546.0
Crops Included Y/NNo
Exterior AmenitiesAwnings
FencingPrivacy, WroughtIron
Foundation DetailsCombination, ConcretePerimeter
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions7288
Lot FeaturesZeroToOneUnitAcre, Garden, Lawn, Level, Ranch, Yard
Lot Size Acres0.1674
Lot Size Area7290.0
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Number of Buildings1
Number of Separate Electric Meters4
Number of Separate Gas Meters4
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesConcrete, DirectAccess, DrivewayLevel, DoorSingle, GarageFacesFront, Garage, OnSite, Paved
Private PoolNo
Road Frontage TypeCityStreet
SpaNo
Total Parking2.0
Water SourcePublic
Additional Details
Price History
Alexandra Eston
Sales Associate
