6115 Cherry Ave, Long Beach, CA 90805

6115 Cherry Ave, Long Beach, CA 90805

Long Beach, CA

Property Description

6115 Cherry Ave is in the heart of the development “renaissance” happening in North Long Beach and is a short commute to employers in Downtown Long Beach and adjacent employment hubs such as the Los Angeles, South Bay and Orange County via the 91, 710 and 405 freeways. Built in 1959, the subject property is comprised of six (6) one-bed/one-bath units. The property has received an exterior face lift including a newer roof and new paint. Gas and electricity are separately metered keeping landlord expenses to a minimum. There is a laundry room and six (6) uncovered parking spaces that can provide additional income to new investors.


Property Features

  • Sale Price: $1,230,000
  • Area Size: 3,272 Sq. Ft.
  • Land Area: 4,791 Sq. Ft.
  • Year Built: 1959
  • Listing Date: 10/14/2022
  • Closing Date: 1/10/2023
  • Units: 6
  • Current GRM: 14.78
  • Current Cap Rate: 4.24%
  • Price Per Unit: $205,000
  • Market GRM: 10.68
  • Market Cap Rate: 6.91%
  • Current NOI: $52,108

Lyon Stahl Investment Real Estate

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