1724 Cherry Avenue

Long Beach, CA 90813

$1,750,000
Price
—
Beds
5,540 Sq. Ft.
$316 / Sq. Ft.
5,540
Sq. Ft.
$316
per Sq. Ft.

Description

We are pleased to present the opportunity to acquire 1724 Cherry Ave, an 8-unit multifamily investment property in Long Beach, 5.44 CAP on current rents and one of the premier housing markets in Southern California. Specifically, 1724-30 Cherry Ave is located in Macartur Park neighborhood. The 5540 square foot property consists of four one-bedroom and four two-bedroom floor plans. built in 1928. 1724 Cherry Ave offers amenities including gated access, garage parking, private yard, and an on-site...We are pleased to present the opportunity to acquire 1724 Cherry Ave, an 8-unit multifamily investment property in Long Beach, 5.44 CAP on current rents and one of the premier housing markets in Southern California. Specifically, 1724-30 Cherry Ave is located in Macartur Park neighborhood. The 5540 square foot property consists of four one-bedroom and four two-bedroom floor plans. built in 1928. 1724 Cherry Ave offers amenities including gated access, garage parking, private yard, and an on-site laundry facility. Six out of 8 units recently have been renovated with new kitchens, bathrooms, electrical and plumbing. Property also has been retrofitted and seller has completed lots of repairs throughout. Stairway connected to the garages has been completely rebuilt. Given the strength of the overall apartment market within the city of Long Beach, 1724 Cherry Ave offers an investor the ability to capture quality tenants seeking a great beach neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 1724 Cherry Ave.
  1. Listed by Alec Kara • DRE #02030808 • Brokerage DRE #01917184 • Keller Williams Pacific Estate

Property Details for 1724 Cherry Avenue

Total Units
8.0
Building Area Total
5540
Building Area Units
Square Feet
Parcel Number
7261006022
Area
Signal Hill (8)
Directions
Follow I-405 S to Cherry Ave in Long Beach. Take exit 29B from I-405 S. Merge onto Cherry Ave Pass by U.S. Bank Branch (on the right in 0.5 mi) Destination will be on the left
LISTING UPDATED: 07/31/2020 10:15 PM

Property Details for 1724 Cherry Avenue

StatusActive
MLS #PW20095824
Days on Market1677
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built-
Lot Size8502.00 AC / 370,347,120 SF
CountyLos Angeles County

Building Information for 1724 Cherry Avenue

Stories-Residences-Year Built-Building Size-Lot Size8502.00 AC / 370,347,120 SF

Property Information for 1724 Cherry Avenue

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $143,940
  • Net Operating Income: $97,875
  • Cap Rate: 5.44
Expense Details
  • Operating Expense: $41,746
  • Expense Year: $2,019
  • Electric Expense: $1,250
  • Maintenance Expense: $4,000
  • Professional Management Expense: $0
  • Other Expense: $0
  • Trash Expense: $450
  • Water Sewer Expense: $1,750
  • Real Estate Tax Expense: $22,500
  • Supplies Expense: $0
Tax / Assessment Info
  • Tax Year: 2019
  • Tax Annual Amount: $22,500
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
Land/Lot Info
  • Lot Features: Front Yard, Lawn, Near Public Transit, Park Nearby, Walkstreet, Yard
  • Land Use: Multi-Family
  • Water Source: Other
Property / Structure Info
  • Building Status: Existing
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,250
  • Unit Type Area: 585
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,150
  • Unit Type Area: 585
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,300
  • Unit Type Area: 585
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 3
  • Unit Type Description: renovated
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,295
  • Unit Type Area: 585
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 4
  • Unit Type Description: renovated
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,600
  • Unit Type Area: 850
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 5
  • Unit Type Description: renovated
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,750
  • Unit Type Area: 850
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 6
  • Unit Type Description: renovated
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,750
  • Unit Type Area: 850
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 7
  • Unit Type Description: renovated
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,800
  • Unit Type Area: 850
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 8
  • Unit Type Description: renovated

Property History for 1724 Cherry Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1724 Cherry Avenue

Taxable ValueLand$1,140,798Additions$742,845Total$1,883,643
Tax Record2024$24,943 ($2,079 / month)
Home Facts
Total Finished SqFt5,540 SqFtAbove Grade Finished SqFt5,540 SqFtLot Size8,502 SqFtStyleMulti-Family Res (5+ Units)Year Built1928ZoningLBCNRCountyLOS ANGELESAPN7261-006-022

Schools near 1724 Cherry Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Lee Elementary School
Public - K to 5
Jefferson Leadership Academies School
Public - 6 to 8
Wilson High School
Public - 9 to 12
Clear Passage Educational Center
Charter - 9 to 12
Rating
School
Distance
Lee Elementary School
PublicK to 5

Jefferson Leadership Academies School
Public6 to 8

Wilson High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1724 Cherry Avenue, Long Beach, CA 90813

1724 Cherry Avenue is a multi-family home for sale in Long Beach, CA 90813. This property was listed for sale on May 19, 2020 by Keller Williams Pacific Estate, it's currently listed at $1,750,000. It has been on the market for a total of 1677 days and was last sold on December 20, 2024. This listing's school district is Long Beach Unified School District. Nearby schools include Lee Elementary School, Jefferson Leadership Academies School and Wilson High School. 1724 Cherry Avenue is a 0-bed, 0-bath, 5,540 sqft multi-family home.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Pacific Estate, Alec Kara, DRE #02030808

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.