1715 Cherry Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,525,000 USD
949-463-9892
1715 Cherry Ave, Long Beach, CA for Sale
$1,525,000 USD
Apartments - FOR SALE
1/21
null | 5.61% Cap Rate

1715 Cherry Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Assumable Loan @ 3.42% Through December of 2026
  • High Yielding Unit Mix with (1) 2 bedroom/ 1 bath and (5) 1 bedroom/1 bath Units
  • Strong In-Place Cash Flow
  • 4 On-site Garages

OVERVIEW

The Taormina Real Estate Group is pleased to present 1715 Cherry Avenue, a 6-unit multifamily property located in the highly sought-after Long Beach Market of Los Angeles County. The property features a mix of unit configurations, including (1) 2-bedroom, 1-bath unit and (5) 1-bedroom, 1-bath units. The property offers a fully stabilized investment opportunity with strong cash flow and immediate returns from day one. Residents benefit from the array of dining, shopping, and entertainment options along Cherry Avenue, as well as convenient access to major freeways and key job markets. Given the ongoing shortage of apartment housing and the rising cost of single-family homes in Southern California, Cherry Avenue offers long-term growth for savvy investors. **Assumable Loan @ 3.42% Through December of 2026. Inquire for details**

FOR SALE DETAILS

PRICE

$1,525,000 USD

PRICE/SF

$445 USD /SF

# OF UNITS

6

PRICE/UNIT

$254,167

CAP RATE

5.61%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Assumable Loan @ 3.42%

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

CNR

APN/PARCEL ID

7261-005-008

ASK ABOUT THIS PROPERTY

Aspen LabradorCompassMore Info
949-463-9892

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Aspen LabradorCompassMore Info
949-463-9892

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.