1825 Cherry Avenue Long Beach, CA 90806
***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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site76 Days
- MLS StatusActive
- MLS ID Number24362089
- Home Size Source N/A
- Year Built1903
- Lot Size0.134 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style Spanish
- Construction Stucco
- Parking Driveway
- Parking Spaces 7
- Number of Stories Multi/Split, Two2
- Acreage 0.134
- Security Window BarsGated Community
- Garage Spaces 1
- Foundation SlabRaised
- Zoning LBCNR
- Listing Conditions Standard
- Property Condition Updated/ Remodeled
- Direction Faces East
Interior Features
- Cooling None
- Heating Natural Gas
- Appliances RefrigeratorGas OvenGas Range
- Flooring WoodTile
- Fireplace Features None
- Laundry Features None
- Fireplace No
Exterior Features
- View None
- Spa No
- Pool Features None
- Spa Features None
- Lot Utilities - Overhead
- Patio And Porch PorchFront PorchRear PorchRoof Top
Community Features
- Senior Community No
- MLS Area 9 - Poly High
- Security Features Window BarsGated Community