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Keller Williams
1605 Cherry Avenue, Long Beach, CA 90813
- $1,373,000
- List Price
- $1,373,000
- Status
- ACTIVE
- Days on Market
- 2
- MLS#
- OC26221690
- Subtype
- Residential Income
- Year Built
- 1949
- Lot Size
- 7,292
- Acres
- 0.17
- MLS Area Major
- Not Defined (699)
Property Description
KIG presents Cherry Avenue Apartments, a four-unit multifamily investment opportunity located at 1605 Cherry Avenue in Long Beach, California. The property generates $100,800 in annual gross scheduled rental income ($8,400 monthly), with approximately 13% potential rental upside based on estimated market rents. Built in 1949, the single-story property offers a mix of two- and three-bedroom residences, complemented by two garage parking spaces. Individual exterior entrances open onto a shared landscaped courtyard featuring mature greenery and gated pedestrian access. The single-story layout provides residents with no upstairs neighbors, contributing to the property's inviting residential setting. Situated along Cherry Avenue near Pacific Coast Highway, the property offers convenient access to neighborhood shopping, dining, and public transportation. Its location connects residents to destinations throughout Long Beach, while separate utility metering supports direct tenant billing for individually metered services and helps limit owner-paid utility expenses. Cherry Avenue Apartments offers investors an income-producing multifamily property combining strong in-place rental income, potential rental upside, courtyard living, and a desirable unit mix. ** DO NOT DISTURB TENANTS **
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Additional Information
- Pool Type
- None
- Garage Spaces
- 2
Mortgage Calculator
Listing courtesy of Listing Agent: Jason Kirklen (jason@kig-usa.com) from Listing Office: Kirklen Investment Group.
Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.