6551 Cherry Ave, Long Beach, CA 90805

6551 Cherry Ave, Long Beach, CA 90805

Long Beach, CA
$1,045,000

Property Description

Lyon Stahl Investment Real Estate as exclusive listing broker, is pleased to present an opportunity to acquire a 3,194 Sq Ft 4-unit building situated on a 5,525 Sq Ft lot located in the city of Long Beach, CA.
The subject property is located at 6551 Cherry Avenue. The property is composed of (2) 2 Bedroom / 1.5 Bath units & (2) 1 Bedroom / 1 Bath units built in 1946. This property has 2 buildings. The front building is 1 story and contains both 1+1 units, and the back building is 2 stories containing both 2+1.5 units. 3 out of 4 of the units have laundry hookups. There is 1 single car garage rented out by one of the tenants. There are 2 parking spots available in the driveway, alongside 2 parking spaces in the back. The property also contains ample street parking.

 

INVESTMENT HIGHLIGHTS

  • 22% Upside in Rents
  • All Tenants Up to Date on Rent
  • One Parking Space per Unit
  • Dual Pane Windows Throughout
  • Value Add Opportunity
  • ADU Potential

Property Features

  • Sale Price: $1,045,000
  • Area Size: 3,194 SF
  • Year Built: 1946
  • Listing Date: May 31, 2022
  • Units: 4
  • Current GRM: 15.28
  • Current Cap Rate: 4.25%

Lyon Stahl Investment Real Estate

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