6759 Cherry Avenue

Long Beach, CA 90805

$1,325,000
Price
—
Beds
2,930 Sq. Ft.
$452 / Sq. Ft.
2,930
Sq. Ft.
$452
per Sq. Ft.

Description

Built in 1958, the property is zoned LBCCA, boasts recent enhancements to maximize tenant appreciation and long-term value. Located in a sought-after Long Beach neighborhood, this property offers strong upside potential for rent growth and increased cash flow. Currently, one studio and a one-bedroom unit are vacant, providing the opportunity to upgrade and secure market rents, making this an exceptional investment opportunity.. This impressive property consists of 7 well-appointed units offering...Built in 1958, the property is zoned LBCCA, boasts recent enhancements to maximize tenant appreciation and long-term value. Located in a sought-after Long Beach neighborhood, this property offers strong upside potential for rent growth and increased cash flow. Currently, one studio and a one-bedroom unit are vacant, providing the opportunity to upgrade and secure market rents, making this an exceptional investment opportunity.. This impressive property consists of 7 well-appointed units offering a mix of Studio and 1 bedroom layouts, appealing to a range of tenants. These commercial units are centrally located in Long Beach, offering access to major shopping, convenient transportation and direct access to the 91 freeway, ensuring quick connections to LAX, downtown LA, and other Key metropolitan areas.
  1. Listed by Chuck Chavez • DRE #01367620 • Brokerage DRE #01280965 • Century 21 Allstars • Chuck@chuckchavez.com

Property Details for 6759 Cherry Avenue

Parking Spaces Total
6
Total Units
7.0
Lot Size Source
Assessor
Building Area Total
2930
Building Area Units
Square Feet
Stories Total
2
Entry Level
1
Parcel Number
7116007034
LISTING UPDATED: 12/20/2024 02:46 AM

Property Details for 6759 Cherry Avenue

StatusActive
MLS #DW24250996
Days on Market9
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built1958
Lot Size0.10 AC / 4,294 SF
CountyLos Angeles County

Building Information for 6759 Cherry Avenue

Stories2Residences-Year Built1958Building Size-Lot Size0.10 AC / 4,294 SF

Property Information for 6759 Cherry Avenue

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $132,600
  • Vacancy Allowance Rate: 3
  • Net Operating Income: $99,232
  • Laundry Income: $550
  • Cap Rate: 7.49
Expense Details
  • Operating Expense: $29,523
  • Insurance Expense: $4,020
  • Total Expenses: $29,523
Tax / Assessment Info
  • Tax Annual Amount: $16,563
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Cooling: Wall/Window Unit(s)
  • Heating: Wall Furnace
Exterior Features
  • Roof: Composition
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre, Near Public Transit
  • Utilities: Sewer Connected
  • Water Source: Public
Parking Info
  • Uncovered Spaces: 6
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: $1,300
  • Unit Type Type: 1
  • Unit Type Description: A
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,275
  • Unit Type Type: 2
  • Unit Type Description: b
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,000
  • Unit Type Type: 3
  • Unit Type Description: c
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,700
  • Unit Type Type: 4
  • Unit Type Description: D Vacant
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,150
  • Unit Type Type: 5
  • Unit Type Description: 1 studio
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,180
  • Unit Type Type: 6
  • Unit Type Description: 2 Studio
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,250
  • Unit Type Type: 7
  • Unit Type Description: 3 studio vacant

Property History for 6759 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 6759 Cherry Avenue

Taxable ValueLand$246,281Additions$423,304Total$669,585
Tax Record2024$9,511 ($793 / month)
Home Facts
Total Finished SqFt2,930 SqFtAbove Grade Finished SqFt2,930 SqFtLot Size4,294 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningLBCCACountyLOS ANGELESAPN7116-007-034

Schools near 6759 Cherry Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
McKinley Elementary School
PublicK to 5

Hamilton Middle School
Public6 to 8

Jordan High School
Public9 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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6759 Cherry Avenue is a multi-family home for sale in Long Beach, CA 90805. This property was listed for sale on December 20, 2024 by Century 21 Allstars, it's currently listed at $1,325,000. It has been on the market for a total of 9 days and was last sold on March 14, 2012. This listing's school district is Long Beach Unified School District. Nearby schools include McKinley Elementary School, Hamilton Middle School and Jordan High School. 6759 Cherry Avenue is a 0-bed, 0-bath, 2,930 sqft multi-family home built in 1958.

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 Century 21 Allstars, Chuck Chavez, DRE #01367620

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.