915 Cherry Avenue, Long Beach, CA 90813
  • MLS#: OC25112446 ( Apartment )
  • Street Address: 915 Cherry Avenue
  • Viewed: 4
  • Price: $7,000,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1922
  • Bldg sqft: 0
  • Days On Market: 64
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90813
  • Subdivision: Other (othr)
  • Provided by: Marcus & Millichap RE Invest
  • Contact: Tyler Tyler
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    The Cherry Ave Collection, (the Collection, the Portfolio or the Property), is a 36 unit, 4 property multifamily portfolio located in Long Beach, California. Built between 1922 and 1923, the Collection offers investors an opportunity to acquire a sizable footprint in one of Los Angeles Countys most desirable rental markets. The Collection features an attractive mix of studio, one, and two bedroom floor plans with desirable property amenities including surface and garage parking, on site laundry (select units feature laundry hookups), and spacious common courtyards. The Collection 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 Collection 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, the Cherry Ave Collections 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, the Collection represents an attractive opportunity for a new owner seeking well located units.
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Features
Additional Parcels Description
  1. 7267015018
  2. 7267015019
  3. 7267015020
Association Fee
  1. 0.00
Building Area Total
  1. 21667.00
Commoninterest
  1. Community Apartment
Common Walls
  1. No Common Walls
Country
  1. US
Electric Expense
  1. 8123.00
Entry Location
  1. First level
Fuel Expense
  1. 8123.00
Garage Spaces
  1. 21.00
Insurance Expense
  1. 36000.00
Laundry Features
  1. Community
Levels
  1. Two
Lot Features
  1. Level with Street
Netoperatingincome
  1. 427380.00
Newtaxesexpense
  1. 86815.00
Number Of Separate Electric Meters
  1. 36
Number Of Separate Gas Meters
  1. 36
Otherexpense
  1. 58202.00
Otherexpensedescription
  1. Misc
Otherincome1
  1. 4697.00
Otherincomedescription
  1. Misc
Parcel Number
  1. 7267015017
Pool Features
  1. None
Professionalmanagementexpense
  1. 31726.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 439066466:CRM
Subdivision Name Other
  1. Other
Totalexpenses
  1. 277638.00
Trash Expense
  1. 8123.00
Uncovered Spaces
  1. 2.00
Vacancyallowance
  1. 21659
Water Sewer Expense
  1. 8126.00
Water Source
  1. Public
Year Built
  1. 1922
Year Built Source
  1. Assessor
Zoning
  1. LBR2N