905 Cherry ave, Long Beach, CA 90813
Active
$4,700,000
26 Units
3 Beds
2 Baths
15,328 Area(sq.ft.)
Lot: 19,602 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 24 | 1 | 1 | No | $ 37,925 | $ 37,925 | $ 40,680 |
| Unit 2 | 2 | 2 | 1 | No | $ 3,855 | $ 3,855 | $ 4,390 |
| 26 | 28 | 26 | $ 917,910 | $ 917,910 | $ 985,100 |
| MLS #: | OC25134383MR |
| Days On Market: | 232 |
| Listing Date: | June 16, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 307 |
| Price per unit: | $ 180,769 |
| Year Built: | 1922 |
Property Details
905 & 915 Cherry Avenue is a 2-property, 26-unit multifamily portfolio located in Long Beach, California. Built in 1922, 905 & 915 Cherry Avenue offers investors an opportunity to acquire a sizable footprint in one of Los Angeles County s most desirable rental markets. 905 & 915 Cherry Avenue features an attractive mix of one and two-bedroom floor plans with desirable property amenities including surface and garage parking, and on-site laundry facilities. The portfolio 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 portfolio 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, 905 & 915 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, 905 & 915 Cherry Avenue represents an attractive opportunity for a new owner seeking well located units.Interested in this Listing?
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Income Details
| Rent Control: | False |
| Gross Operating Income: | $ 486,319 |
| Total Annual Expense: | $ 202,471 |
| Net Operating Income: | $ 288,545 |
| Cap Rate: | 6.14% |
| Gross Rent Multiplier: | 9.29 |
Structure
| Community Features: | Curbs, Gutters, Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR2N |
| Land Lease Type: | Fee |
| Total Parking: | 15 |
Interior
| Laundry: | Community |
Exterior
| Pool: | No |
Detailed Map
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