555 Cherry Avenue is located on the northern end of Alamitos Beach near Belmont Heights, Retro Row, and the Zaferia District—one of Long Beach’s strongest rental pockets. Offered for the first time in over 50 years, the property operates at a 5.50% CAP rate on current rents with the potential to achieve an 8.0%+ CAP rate through modest rent increases. All new main and sub electrical panels are currently being installed, minimizing near-term capital expenses. With strong in-place income, clear upside, and a prime coastal location, this presents an outstanding investment opportunity and exceptional value for investors seeking both stability and growth.