315 Cherry Avenue

Long Beach, CA 90802

$3,195,000
Price
6
Beds
8
Baths
6,392 Sq. Ft.
$500 / Sq. Ft.
6,392
Sq. Ft.
$500
per Sq. Ft.
a front view of a house with garage
a view of an empty room with a window and wooden floor
an empty room with wooden floor and windows
a view of livingroom with hardwood floor and hallway
an empty room with wooden floor and windows
a kitchen with granite countertop white cabinets and refrigerator
a bathroom with a shower and a bath tub
a view of an empty room with a window and wooden floor
wooden floor in an empty room with a window
a bathroom with a sink a toilet and shower
a view of an empty room with wooden floor and a window
an empty room with wooden floor windows and ceiling fan
a view of a livingroom with wooden floor and white walls
an aerial view of a city
an aerial view of a house with a garden
a front view of a house with garden
a front view of a house with garden

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...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!
  1. Listed by Matthew Mahowald • DRE #02001732 • Brokerage DRE #01914434 • Buckingham Investments, Inc • 310 756-5511

Property Details for 315 Cherry Avenue

Architectural Style
Spanish
View
None
Parking Spaces Total
4
Private Pool
No
Cooling Type
None
Total Units
8.0
Building Type
Attached
Lot Size Source
Public Records
LISTING UPDATED: 10/23/2024 03:39 AM

Property Details for 315 Cherry Avenue

StatusActive
MLS #SB24022524
Days on Market289
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1923
Lot Size0.16 AC / 6,756 SF
CountyLos Angeles County

Building Information for 315 Cherry Avenue

Stories2Residences-Year Built1923Building Size-Lot Size0.16 AC / 6,756 SF

Property Information for 315 Cherry Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $218,166
  • Net Operating Income: $152,716
  • Number Of Rented Garages: 4
Expense Details
  • Operating Expense: $65,449
  • Electric Expense: $100
  • Insurance Expense: $100
  • Professional Management Expense: $100
  • Trash Expense: $100
  • Water Sewer Expense: $100
  • Total Expenses: $65,449
Tax / Assessment Info
  • Tax Tract Number: 1
  • Tax Census Tract: 5765.03
  • Tax Lot: 14
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Biking, Curbs, Dog Park, Park, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Appliances: None
  • Equipment: Gas Or Electric Dryer Hookup, In Closet, Inside, None, Room
  • Interior Features: 2 Staircases, Built-in Features, Ceiling Fan(s), Open Floorplan, Quartz Counters, Recessed Lighting
  • Room Type: Den, Entry, Family Room, Kitchen, Laundry, Living Room
  • Laundry: Yes
  • Laundry Features: Gas & Electric Dryer Hookup, In Closet, Individual Room, Inside
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Ductless
  • Heating: Ductless
  • Flooring: Laminate, Vinyl, Wood
Exterior Features
  • Security Features: Gated Community, Smoke Detector(s)
  • Construction Materials: Unknown
  • Exterior Construction: Other
  • Exterior Features: Lighting
  • Roof: Flat
  • Entry Location: Eastside
  • Fence: Yes
  • Fencing: Good Condition, Security
  • Foundation Details: Raised
  • Other Structures: Second Garage Attached
  • Property Condition: Turnkey
  • View Description: None
  • Waterfront Features: Ocean Side Of Highway 1
  • Pool Features: None
  • Pool Description: None
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre, Back Yard, Front Yard, Landscaped, Level with Street, Near Public Transit, Park Nearby, Paved
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Alley Paved, Paved
  • Road Frontage Type: Alley, City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Electricity - On Property, Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Garage, Public
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Garage, Public
Property / Structure Info
  • Builders Tract Name: Alamitos Beach
  • Builders Tract Code: Alamitos Beach (AB)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,625
  • Unit Type Total Rent: $2,625
  • Unit Type Pro Forma: 2625
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,495
  • Unit Type Total Rent: $2,495
  • Unit Type Pro Forma: 2625
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,426
  • Unit Type Total Rent: $2,426
  • Unit Type Pro Forma: 2625
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,550
  • Unit Type Total Rent: $2,550
  • Unit Type Pro Forma: 2625
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,695
  • Unit Type Total Rent: $1,695
  • Unit Type Pro Forma: 1750
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,520
  • Unit Type Total Rent: $2,520
  • Unit Type Pro Forma: 2625
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,120
  • Unit Type Total Rent: $2,120
  • Unit Type Pro Forma: 2625
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,750
  • Unit Type Total Rent: $1,750
  • Unit Type Pro Forma: 1750
  • Unit Type Type: 8
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 8
  • Number With Range: 8
  • Number With Refrigerator: 8
  • Number With Disposal: 8
  • Number Wall AC: 8

Property History for 315 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 315 Cherry Avenue

Taxable ValueLand$1,661,912Additions$1,608,302Total$3,270,214
Tax Record2024$42,185 ($3,515 / month)
Home Facts
Total Finished SqFt6,392 SqFtAbove Grade Finished SqFt6,392 SqFtLot Size6,754 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLBR1NCountyLOS ANGELESAPN7275-018-033

Schools near 315 Cherry Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Burbank Elementary School
Public - K to 5
Franklin Classical Middle School
Public - 6 to 8
Polytechnic High School
Public - 9 to 12
Clear Passage Educational Center
Charter - 9 to 12
Rating
School
Distance
Burbank Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

Homes for Sale near Alamitos Beach

Neighborhoods

Cities

ZIPs

More information about 315 Cherry Avenue, Long Beach, CA 90802

315 Cherry Avenue is a mixed use property for sale in Long Beach, CA 90802. This property was listed for sale on January 31, 2024 by Buckingham Investments, Inc, it's currently listed at $3,195,000. It has been on the market for a total of 289 days and was last sold on May 21, 2019. This listing's school district is Long Beach Unified School District. Nearby schools include Burbank Elementary School, Franklin Classical Middle School and Polytechnic High School. 315 Cherry Avenue is a 6-bed, 8-bath, 6,392 sqft mixed use property built in 1923.

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. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Buckingham Investments, Inc, Matthew Mahowald, DRE #02001732

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.