$2,275,000
 $12,213 est/mo Sourced by Back At You

1036 Cherry Avenue,Long Beach, CA 90813

Long Beach, CA 90813

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Description

Huge ~300k Price Reduction! 8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 7.5% 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 8.7% 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.

Details

MLS #26869003
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1921
Days On Site25
Listing Provided ByGlobal Platinum Properties, Inc. | Julio Ruiz

Features

Bed(s)10
Bath(s)8
SQ Feet4,722
Story(s)2
Units8
Building(s)1
ZoningLBR2N
Acreage0.13

Interior

HeatingWall Furnace
Heating Yes / NoYes

Parking

Parking FeaturesNone

Area Information

StateCA
CountyLos Angeles
CityLong Beach
Zip Code90813
Area3 Eastside | Circle Area
Listing VS Median (in 90813)
Price:
$2,275,000
low | high
Med:
$1,499,000
84.10989010989% of Average
sqft:
4,722
low | high
Med:
3,380
78.420160948751% of Average
$ / sqft:
$482
low | high
Med:
$443
57.948787307367% of Average
On site:
25
low | high
Med:
139
17.985611510791% of Average
Sourced by Back At You

Market Activity 90813

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Additional Information

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Contact

Learn More About This Property

David Hong

David Hong

Coldwell Banker Commercial

02207128 (760) 617-8885david.hong@cbcinland.com
StateCA
CountyLos Angeles
CityLong Beach
Zip Code90813
Area3 Eastside | Circle Area
Listing VS Median (in 90813)
Price:
$2,275,000
low | high
Med:
$1,499,000
84.10989010989% of Average
sqft:
4,722
low | high
Med:
3,380
78.420160948751% of Average
$ / sqft:
$482
low | high
Med:
$443
57.948787307367% of Average
On site:
25
low | high
Med:
139
17.985611510791% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $1.76M - $2.843M
sqft: 3,500 - 5,500
Nearby Listings Property ImageNearby Listings Details
1101 Cherry Avenue Property Photo 1
$2,800,000
1101 Cherry Avenue
Long Beach, CA 90813
1015 Dawson Avenue Property Photo 1
$1,199,000
1015 Dawson Avenue
Long Beach, CA 90804
Listing Updated: August 21, 2026 at 9:51:51 PM PDT