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1724 Cherry Avenue
USD 2,225,000
Property ID: SB24164233
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1724 Cherry Avenue ,90813
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icon 8502 SqFt
icon Built in 1928
icon USD 262/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
5540
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1928
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Detailed Introduction Of This Home
This totally remodeled turnkey 8 unit Spanish Style property is in a high demand rental area of Long Beach just South of PCH. Great unit mix with (4) 2 Bed 1 Bath units and (4) 1 Bed 1 Bath units, and 100% of the unit interiors have been upgraded including cabinets, counters, flooring, paint, lighting, and bathrooms. One double garage and (3) single garages with additional storage create a great opportunity for a future ADU build. There is an attractive garden courtyard area for tenants' enjoyment, creating peaceful entries and common areas. Conveniently located for tenants at just 1 mile to the beach, 1 miles to the 405, and just over 2 miles to the 110. An onsite laundry room exists with hookups, but no machines or leases are in place. (4) of the units include in unit laundry. Major electrical panel upgrades were completed in 2021. Priced at a competitive GRM in the low 11's (11.18) and a Cap Rate just shy of 6% (5.7%), with strong yield allowing good leverage (~65% LTV) with interest only loans available at 6.05%.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
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Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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Photos (29)
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1724 Cherry Avenue
USD 2,225,000 0 Beds
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