Long Beach, CA 90813 1615 Cherry Avenue

$1,275,000

1615 Cherry Avenue Long Beach, Ca - Image 1

1615 Cherry Avenue Long Beach, Ca - Image 2

1615 Cherry Avenue Long Beach, Ca - Image 3

4 more

1615 Cherry Avenue Long Beach, Ca - Image 4

1615 Cherry Avenue Long Beach, Ca - Image 5

1615 Cherry Avenue Long Beach, Ca - Image 6

1615 Cherry Avenue Long Beach, Ca - Image 7

1615 Cherry Avenue Long Beach, Ca - Image 8

Presented By: Steven Richardson with Y Realty;

MLS# PW24015369
01/30/2024

Request Tour
Request Info

Beds • 2
Baths • 1
SQFT • 3,546
Garage • 2

Home Details

**Fantastic Investment Opportunity: Spacious 4-Unit Building in the Heart of an Up-and-Coming Neighborhood!** Welcome to your next lucrative investment located just south of Signal Hill and within a short 2-mile radius of the stunning beaches. This prime property offers not only a sought-after location but also incredible potential for growth in an area currently undergoing rezoning for additional apartment density. **Key Features:** - **Unit Mix:** This well-maintained building consists of 4 units, featuring 2 expansive 3-bedroom apartments and 2 comfortable 2-bedroom apartments. The generous unit sizes are a standout feature, providing tenants with ample space and modern living comfort. - **Prime Location:** Nestled in the vibrant and up-and-coming neighborhood, this property is strategically positioned for optimal access to both the bustling city life and the tranquil beachfront. Residents can enjoy the best of both worlds.

Presented By: Steven Richardson with Y Realty;

Interior Features for 1615 Cherry Avenue

Other Interior Features

Air Conditioning Y/NNo

Basement (Y/N)No

Common WallsItem2CommonWalls

Electric On Property Y/NNo

Fireplace FeaturesNone

Fireplace Y/NNo

FlooringCarpet, Laminate, Tile

Heating Y/NYes

Laundry FeaturesCommonArea

Street SuffixAvenue

Total Stories1

Other Rooms

Entry Level1

General for 1615 Cherry Avenue

AccessibilityLowPileCarpet, NoStairs, Parking, AccessibleDoors, AccessibleHallways

Additional Parcels Y/NNo

AppliancesDisposal, GasRange, GasWaterHeater, Microwave, Refrigerator, RangeHood, SelfCleaningOven, WaterHeater

Architectural StyleContemporary

Attached Garage No

Building Area UnitsSquareFeet

Cap Rate3.5

Carport Y/NNo

CityLong Beach

Community FeaturesStreetLights, Sidewalks, Gated

Construction MaterialsDrywall

CoolingNone

CountyLos Angeles

Current FinancingConventional

Days on Market94

Directions405 South to Cherry Ave South to Pacific Coast Highway

ElectricElectricityOnProperty

Electric Expense0.0

Entry LocationGround Floor

Exterior FeaturesAwnings

Fuel Expense0.0

Garage Spaces2.0

Garage Y/NYes

Gross Income2400.0

HOA / Comm AssnNo

HeatingNaturalGas

Home Warranty Y/NNo

Insurance Expense400.0

Interior FeaturesCeilingFans, LaminateCounters, OpenFloorplan, TileCounters, AllBedroomsDown

Land Lease Y/NNo

Lease Considered Y/NNo

Lease Renewal Y/NNo

LevelsOne

Listing TermsCashtoNewLoan

Lot Size Square Feet7290.0

MLS Area8 - Signal Hill

MobileHomeRemainsYNNo

Net Operating Income58995.0

New ConstructionNo

Number of Units Leased3

Operating Expense19665.0

Pool FeaturesNone

PossessionCloseOfEscrow

Private PoolNo

Property Attached Y/NYes

Property Sub Type AdditionalApartment

Property SubTypeApartment

Property TypeResidentialIncome

Rent Control Y/NNo

Security FeaturesCarbonMonoxideDetectors, FireDetectionSystem, GatedCommunity, SmokeDetectors

Senior Community Y/NNo

SewerPublicSewer

Spa FeaturesNone

Special Listing ConditionsStandard

Standard StatusActive

StatusActive

Stories1

Street NameCherry

Subdivision Namenone

Tax Lot12

Total Units4

Trash Expense200.0

UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected

ViewCityLights

View Y/NYes

Water Sewer Expense550.0

Waterfront Y/NNo

Year Built1949

Year Built SourceAssessor

ZoningLBCNR

Exterior for 1615 Cherry Avenue

Building Area Total3546.0

Crops Included Y/NNo

FencingPrivacy, WroughtIron

Foundation DetailsCombination, ConcretePerimeter

Horse Y/NNo

Irrigation Water Rights Y/NNo

Lot Dimensions7288

Lot FeaturesItem01UnitAcre, Garden, Lawn, Level, Ranch, Yard

Lot Size Acres0.1674

Lot Size Area7290.0

Lot Size SourceAssessor

Lot Size UnitsSquareFeet

LotDimensionsSourceAssessor

Number of Buildings1

Number of Separate Electric Meters1

Number of Separate Gas Meters4

Number of Separate Water Meters4

Open Parking Y/NNo

Parking FeaturesConcrete, DirectAccess, DrivewayLevel, DoorSingle, GarageFacesFront, Garage, OnSite, Paved

Road Frontage TypeCityStreet

SpaNo

Total Parking2.0

Water SourcePublic

Additional Details

Price History

First Team Client Services

Price $1,275,000

MLS#PW24015369

List Date 01/30/2024

Property Type Multi-Family

Phone 714.964.3311

Request Tour

Request Info

Visit My Website

Similar Properties to 1615 Cherry Avenue

Give yourself a better position in the competitive home buying market. Complete the form to get started on your journey to purchase your dream home. Our lending partner has a wide variety of lending options available and advanced mortgage technology. As a result, our lending partner's clients enjoy a flawless experience through impeccable execution and timely communication throughout the process.

First Name

Last Name

Phone

Preferred Contact Method

None

Phone

How can we assist you?

Message