1101 Cherry Ave, Long Beach, CA 90813

1101 Cherry Ave, Long Beach, CA 90813

Long Beach, CA

Property Description

ONE OF THE LOWEST PRICED UNITS ON THE MARKET RIGHT NOW AT $56k PER UNIT. Great 8.08% Cap Rate with real opportunity to improve operational efficiency. Excellent for an investor looking for a property in a pro-landlord town with substantial upside in rents (NO RENT CONTROL). The property consists of 16 units, all studio apartments. Many of the units have been upgraded with new appliances, tile, window treatments, and bathroom fixtures in the past year. The entire building received new dual pane windows and a fresh exterior paint job in January of 2007. The property has very small and low maintenance common and ingress/egress areas which are all hardscaped. Onsite laundry room. The building is secured on all sides by fences and/or security gates.

Property Features

  • Sale Price: $1,875,000
  • Area Size: 4,508
  • Year Built: 1923
  • Closing Date: 10/17/18
  • Units: 16

Lyon Stahl Investment Real Estate

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