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315 Cherry Avenue

Long Beach, CA 90802

– beds
– baths
– sqft
6,756 sqft lot
1923 build
– on site

Charming, turnkey, and in a prime location – this is the generational asset you have been looking for! This clean and well-maintained 8-unit property consists of six 1bed/1bath units (over 900 sqft each) and two studio units with four garages. All the units are large, allow for a ton of natural light inside, have great layouts with cool original features (like French Doors, custom built-ins, fire places, etc.). Plus, the vintage character of this classic Spanish style property has been meticulously preserved, while modern amenities have been added over time like laundry units, AC/Heating units, modern kitchens, lighting, ceiling fans, etc. in each unit. The entire property is secured, has drought-resistant landscaping, and has separate electrical and gas meters for each unit. Located within Alamitos Beach, this highly sought after neighborhood of Costal Long Beach is in close proximity to the best the city has to offer – local parks (Carroll & Bixby Park), local beaches (Alamitos & Junipero Beach), local restaurants (4th Street Corridor & Retro Row), local golf courses, public transportation, etc. Plus, this neighborhood is securely anchored by the thriving local economy that continues to grow within Downtown Long Beach. For the savvy investor, the potential may exist to convert the garages into two studio units and/or to add additional bedrooms/ bathrooms to the existing large 1bed units. Also, one might consider a short-term and/or mid-term rental strategy to boost the income even more. This perfect combination is what every tenant is looking for in this area, which keeps vacancy rates low and market rental rates as high as possible – making this a great addition to any investors portfolio!

Listed By CRMLS_CA / Matthew Mahowald / Buckingham Investments, Inc / 310 756-5511

Last checked: Checking… • Last updated May 8, 2024 •

MLS# SB24022524 —

The Building

Year Built:

1923
Year Built Source:

Public Records
New Construction:

No
Construction Materials:

Unknown
Architectural Style:

Spanish
Roof:

Flat
Exterior Features:

Lighting
Foundation:

Raised
Common Walls:

2+ Common Walls
Building Area Total:

6392.00
Building Area Units:

Square Feet
# of Buildings:

2
Total Number Of Units:

8
Stories Total:

2
# of Separate Gas Meters:

8
# of Separate Water Meters:

1
# of Separate Electric Meters:

9

Interior

Features:

2 Staircases, Built-in Features, Ceiling Fan(s), Open Floorplan, Quartz Counters, Recessed Lighting
Levels:

Two
Entry Location:

Eastside
Flooring:

Laminate, Vinyl, Wood
Room Type:

Den, Entry, Family Room, Kitchen, Laundry, Living Room
Number Wall AC:

8
Fireplace:

No
Fireplace:

None
Laundry:

Gas & Electric Dryer Hookup, In Closet, Individual Room, Inside
Laundry:

1

Location

Directions:

On Cherry Ave and 3rd St
Latitude:

33.76963600
Longitude:

-118.16797500

The Property

Property Type:

Residential Income
Subtype:

Commercial/Residential
Property Condition:

Turnkey
Zoning:

LBR1N
Lot Features:

0-1 Unit/Acre, Back Yard, Front Yard, Landscaped, Level with Street, Near Public Transit, Park Nearby, Paved
Lot Size Area:

6756.0000
Lot Size Acres:

0.1551
Lot Size SqFt:

6756.00
Lot Size Source:

Public Records
View:

None
Fencing:

Good Condition, Security
Fence:

Yes
Security Features:

Gated Community, Smoke Detector(s)
Road Frontage:

Alley, City Street
Road Surface Type:

Alley Paved, Paved
Property Attached:

1
Additional Parcels:

No
Other Structures:

Second Garage Attached
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

5765.03
Tax Tract:

1
Tax Lot:

14

The Listing

Buyer's Brokerage Compensation:

2.500%
Special Listing Conditions:

Standard
Buyer's Brokerage Compensation:

$2.50
Parcel Number:

7275018033

Heating & Cooling

Heating:

1
Heating:

Ductless
Cooling:

No
Cooling:

None

Utilities

Utilities:

Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Sewer:

Public Sewer
Electric:

Electricity - On Property, Standard
Water Source:

Public

Appliances

Appliances:

None
Included:

No

The Community

Subdivision:

Alamitos Beach (AB)
Subdivision:

Alamitos Beach (AB)
Senior Community:

No
Features:

Biking, Curbs, Dog Park, Park, Sidewalks, Street Lights
Pool:

None
Private Pool:

No
Waterfront Features:

Ocean Side Of Highway 1
Spa Features:

None
Association:

No
Assessments:

Yes
Assessments:

Unknown

Parking

Parking:

Yes
Parking:

Garage, Public
Parking Spaces:

4.00
Garage Spaces:

4.00

Extra Units

Number With Disposal:

8
Number With Dishwasher:

8
Number With Refrigerator:

8

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
2/1/24 Feb 1, 2024	Listed / Active	CRMLS_CA	$3,350,000	88.7% (15.6% / YR)
6/1/18 Jun 1, 2018		CRMLS_CA	$1,775,000

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This multifamily located in Alamitos Park, Long Beach, CA 90802 is currently for sale for $3,350,000. 315 Cherry Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 109 days. 315 Cherry Avenue is in the Alamitos Park neighborhood of Long Beach and has a WalkScore® of 96, making it a walker’s paradise. This multifamily is in the attendance area of Burbank Elementary School, Franklin Classical Middle School, and Polytechnic High School.

Listing Courtesy of: CRMLS_CA and Buckingham Investments, Inc. Based on information from California Regional Multiple Listing Service, Inc. as of 05:40 on May 20.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.