1036 Cherry Avenue

Property Overview

Huge ~500k Price Reduction! 8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 8% 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 tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Home Details

Property type: Residential Income
Year built: 1921
Living area: 4,722 sq ft
Lot size: 5,844 sq ft
Stories: 2
Days on market: 29
MLS status: Active
Architectural style: Traditional
Zoning: LBR2N

Features & Amenities

Parking

None

Community, Schools & Utilities

Utilities

Heating: WallFurnace

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Location & Neighborhood

Long Beach, CA 90813

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Frequently Asked Questions About 1036 Cherry Avenue

Property type: Residential Income

The current asking price is $2,125,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.

Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 1036 Cherry Avenue. Our team will confirm availability and timing.

This 10 bedrooms and 8 bathrooms property offers approximately 4,722 square feet of living space. It was built in 1921. Review the listing details and disclosures, then independently verify material features before making a decision.

The property is in Long Beach, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.

Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Long Beach property.

The MLS currently reports the property as Active. It has been listed for 29 days. Status can change, so verify availability before relying on it.