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Listed by: Julio Ruiz (818) 524-0706 DRE #01911261, Armin Soleimani DRE #01846872 | Global Platinum Properties, Inc. (424) 394-1030
$2,275,000
10 Beds
8 Baths
4,722sqft
1036 Cherry Ave, Long Beach, CA 90813
$2,275,000
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Multi Family
Built in 1921
$-- HOA
5,844 sqft lot
$482/sq.ft
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 tenant...
Continue Reading- Houzeo last checked: 22 minutes ago
- Listing updated: June 30, 2026 at 10:54 pm
- Source: California Regional MLS-CA | MLS#: 26839619
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
Year Built
1921
HOA Fees
-
Finished Area
4,722 sqft
Lot Size
5,844 sqft lot
Basement Area
- sqft
MLS Name
California Regional MLS
MLS Number
26839619
MLS Status
Active
Days on Market
55
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