841 Cherry Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,250,000 USD
714-713-9086
841 Cherry Ave, Long Beach, CA for Sale
$1,250,000 USD
Apartments - FOR SALE
1/16
null | 6.4% Cap Rate

841 Cherry Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • 841 Cherry Avenue is part of the Cherry Avenue Collection, a 4 property portfolio featuring 36 total multifamily units with a Long Beach location.
  • Residents of the Property benefit from proximity to the region’s robust employment hubs and entertainment centers.
  • Retro Row is located less than half-a-mile south of the 841 Cherry Avenue.
  • The property features two buildings on a 0.15-acre parcel offering a mix of studio & one-bedroom floor plans and 3, garage parking spaces.

OVERVIEW

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 841 Cherry Avenue, a 6-unit multifamily investment property located in Long Beach, California. Built in 1922, 841 Cherry Avenue offers investors the opportunity to acquire 6 well located units in one of Los Angeles County’s most desirable rental markets. The property features two buildings on a 0.15-acre parcel offering a mix of studio & one-bedroom floor plans and 3, garage parking spaces. 841 Cherry Avenue is within walking distance of a variety of lifestyle amenities including Rose Park, the shops and restaurants of Retro Row, and Alamitos Beach. Additionally, the property is just a short commute to employers in Downtown Long Beach and adjacent employment hubs such as the South Bay and Orange County via the 710 and 405 freeways. In summary, 841 Cherry Avenue’s fantastic location offers residents access to a variety of employment, transportation, and retail amenities, all of which will attract a diverse renter pool. With rental upside and strong rental metrics, 841 Cherry Avenue represents an attractive opportunity for a new owner seeking well located units. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$378 USD /SF

# OF UNITS

6

PRICE/UNIT

$208,333

CAP RATE

6.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1922

PARKING SPACES

3

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

7267-015-019

ASK ABOUT THIS PROPERTY

Tyler LeesonMarcus & MillichapMore Info
714-713-9086

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Tyler LeesonMarcus & MillichapMore Info
714-713-9086

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