Long Beach, CA 90813,1036 Cherry AVE
Long Beach, CA 90813,1036 Cherry AVE
Long Beach, CA 90813,1036 Cherry AVE
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Sun
25
Jan
Mon
26
Jan
Tue
27
Jan
The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,595,000
Est. payment /mo
10 Beds
8 Baths
4,722 SqFt
Save

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,722 sqft

Price per Sqft $549

MLS Listing ID 25628703

Bedrooms 10

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1921

Lot Size 5,845 Sqft

Property Description

8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6.1% from day 1! Excellent unit mix of 1 (3bed/1bath) unit and 7 (1bed/1bath) units including 2 brand-new attached ADUs. Several units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash, further minimizing the operating expenses. Non-LA-City rent controlled asset allowing significant 8% annual rent increases (5%+CPI) for future upside. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR2N

Interior

Heating Wall Furnace

Fireplace No

Exterior

Parking Features None

Building

Story 2

Entry Level Two

Architectural Style Traditional

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 7262008019

Special Listing Condition Standard

Read Less Info
CRMLS – RECore
Listed by Armin Soleimani Global Platinum Properties, Inc.

MORTGAGE CALCULATOR

Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.
$
$
%
%
Advanced
Payment
Schedule
Your mortgage payments over 30 years will add up to $0.
Serving Southern California

Customized quick search tools to explore nearby zip codes, cities, and neighborhoods in your favorite destinations

There are 30 quick searches
 
Serving Arizona
Custom Quick Search Tools To Explore Nearby Zip Codes, Cities & Neighborhoods In Your Preferred Destinations
More