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1712 Cherry Avenue

Long Beach, CA 90813
  • $1,450,000
  • STATUS: Active
  • ON SITE: 26 Days
  • ID#: PW22151491
UPDATED: 59 min ago
$1,450,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Listing Agent(s): Kevin King of Marcus & Millichap (562-257-1200) and Ryan Gonzalez of Marcus & Millichap(562-257-1200)


Description

We are pleased to present a 4-unit apartment building located in Long Beach, CA. Built in 1964, the subject property consists of 3,968 rentable square-feet, spread throughout a 5,995 square foot lot. Most units have been recently updated, consisting of two 2-Bedroom/ 1-Bathroom units, one 3-Bedroom/ 3-Bathroom unit and one 3-Bedroom/ 2-Bathroom house to the back of the property. Owners can enjoy this high-demand rental location known for blue-collar workers, resulting in consistent low vacancy-rates and increasing rents. Tenants appreciate living close to 405-Freeway, public transportation, great schools, dining and much more. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was completed and opened in September 2013. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset with high-demand rental market in a great neighborhood of Long Beach.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T10:27:38.013. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
www.amayarealestategroup.com/homes/130775321
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1712 Cherry Avenue Long Beach, CA 90813

  • Price: $1,450,000
  • Status: Active
  • On Site: 26 Days
  • Updated: 59 min ago
  • ID#: PW22151491
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1964
Built
Neighborhood:
699 - Not Defined
County:
Los Angeles
Area:
699 - Not Defined
Property Description
We are pleased to present a 4-unit apartment building located in Long Beach, CA. Built in 1964, the subject property consists of 3,968 rentable square-feet, spread throughout a 5,995 square foot lot. Most units have been recently updated, consisting of two 2-Bedroom/ 1-Bathroom units, one 3-Bedroom/ 3-Bathroom unit and one 3-Bedroom/ 2-Bathroom house to the back of the property. Owners can enjoy this high-demand rental location known for blue-collar workers, resulting in consistent low vacancy-rates and increasing rents. Tenants appreciate living close to 405-Freeway, public transportation, great schools, dining and much more. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was completed and opened in September 2013. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset with high-demand rental market in a great neighborhood of Long Beach.
Exterior Features

Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 2 Open Parking Spaces 6 Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsGutter(S)Storm Drain(S)Street LightsSidewalks Electric Expense 750 Fuel Expense 750 Garage YN No Gross Income 99522 Gross Scheduled Income 102600 Insurance Expense 1500 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Maintenance Expense 3200 Net Operating Income 66267 New Construction YN No New Taxes Expense 18125 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 2 Operating Expense 33255 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 750 Water Sewer Expense 750 Water Source Public Zoning Lbcnr



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T10:27:38.013. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
 
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Nest Real Estate
21804 Cactus Ave ste 101
Riverside CA, 92518
Listing Agent(s): Kevin King of Marcus & Millichap (562-257-1200) and Ryan Gonzalez of Marcus & Millichap(562-257-1200)