315 Cherry Avenue

Long Beach, CA 90802

$3,350,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $524 / sqft

1923

calendar_month Built

Property Description

Charming, turnkey, and in a prime location – this is the generational asset you have been looking for! This clean and well-maintained 8-unit property consists of six 1bed/1bath units (over 900 sqft each) and two studio units with four garages. All the units are large, allow for a ton of natural light inside, have great layouts with cool original features (like French Doors, custom built-ins, fire places, etc.). Plus, the vintage character of this classic Spanish style property has been meticulously preserved, while modern amenities have been added over time like laundry units, AC/Heating units, modern kitchens, lighting, ceiling fans, etc. in each unit. The entire property is secured, has drought-resistant landscaping, and has separate electrical and gas meters for each unit. Located within Alamitos Beach, this highly sought after neighborhood of Costal Long Beach is in close proximity to the best the city has to offer – local parks (Carroll & Bixby Park), local beaches (Alamitos & Junipero Beach), local restaurants (4th Street Corridor & Retro Row), local golf courses, public transportation, etc. Plus, this neighborhood is securely anchored by the thriving local economy that continues to grow within Downtown Long Beach. For the savvy investor, the potential may exist to convert the garages into two studio units and/or to add additional bedrooms/ bathrooms to the existing large 1bed units. Also, one might consider a short-term and/or mid-term rental strategy to boost the income even more. This perfect combination is what every tenant is looking for in this area, which keeps vacancy rates low and market rental rates as high as possible – making this a great addition to any investors portfolio!

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Flooring Information
Material Laminate, Vinyl, Wood
Fireplace Information
Features None
Interior Information
Features 2 Staircases, Built-in Features, Ceiling Fan(s), Open Floorplan, Quartz Counters, Recessed Lighting
Cooling Type None

Listing Information

Address 315 Cherry Avenue
City Long Beach
State CA
Zip 90802
County Los Angeles
Listing Agent Matthew Mahowald DRE#02001732
Courtesy Of Buckingham Investments, Inc
MLS SB24022524
List Price $3,350,000
Status Active
Type Residential Income
Subtype Commercial/Residential
Structure Size N/A
Lot Size 6,756
Year Built 1923
DOM 96

Exterior Information

Other Structures
Structures Second Garage Attached

Maps

Listing information courtesy of: Matthew Mahowald, Buckingham Investments, Inc . *Based on information from the Association of REALTORS/Multiple Listing as of May 8th, 2024 at 11:51 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.