1101 Cherry Ave, Long Beach, CA 90813

  • $1,875,000

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.

Address

  • City Long Beach
  • State/county CA
  • Country United States

Details

Updated on October 25, 2018 at 10:12 pm
  • Price: $1,875,000
  • Property Size: 4,508 Sq Ft
  • Year Built: 1923
  • Property Type: Multifamily
  • Property Status: Sold

Overview

  • Multifamily
  • Property Type
  • 4,508
  • Sq Ft
  • 1923
  • Year Built

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