841 Cherry Avenue is a 6-unit multifamily investment property located in Long Beach, California. Built in 1922, 841 Cherry Avenue offers investors the opportunity to acquire 6 well located units in one of Los Angeles County’s most desirable rental markets. The property features two buildings on a 0.15-acre parcel offering… Read More a mix of studio & one-bedroom floor plans and 3, garage parking spaces. 841 Cherry Avenue is within walking distance of a variety of lifestyle amenities including Rose Park, the shops and restaurants of Retro Row, and Alamitos Beach. Additionally, the property is just a short commute to employers in Downtown Long Beach and adjacent employment hubs such as the South Bay and Orange County via the 710 and 405 freeways. In summary, 841 Cherry Avenue’s fantastic location offers residents access to a variety of employment, transportation, and retail amenities, all of which will attract a diverse renter pool. With rental upside and strong rental metrics, 841 Cherry Avenue represents an attractive opportunity for a new owner seeking well located units. Read Less
Property listed by Marcus & Millichap RE Invest, Tyler Leeson [email protected]
Listing Snapshot
Days Online
27
Last Updated
Property Type
Apartment
Lot Size
0.15 Acres
Year Built
1922
MLS Number
OC25134358
30 Days Snapshot Of 90813
$546k
-8%
(avg) sold price
6
+50%
homes sold
151
+93%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1922, Building area total: 3,311, Levels: Two, 2 stories, 2 buildings, Common walls: NoCommonWalls
Community
Curbs, Gutters, Sidewalks
Expenses
Electric expense: $1,122, Fuel expense: $1,122, Insurance expense: $6,000, Maintenance expense: $5,400, New taxes expense: $15,503, Operating expense: $43,372, Trash expense: $1,122, Water sewer expense: $1,123
Garage
3 spaces
Income
Gross income: $129,180, Net operating income: $81,932
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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