6759 Cherry Avenue, Long Beach, CA 90805

$1,425,000
List Price
$1,425,000
Status
ACTIVE
MLS#
DW21251206
Year Built
1958
Lot Size
4,294
Acres
0.1
Lot Location
Item01UnitAcre
Days on Market
20
Property Type
Multifamily
Property Sub Type
Mixed Use
Stories
Two Levels
Neighborhood
North Long Beach (Nlb)

Property Description

What an amazing opportunity for that investor looking for a profitable multi-unit property. Location is key when looking for a profitable investment such as this 7 unit property conveniently located by 91 and 710 freeways. Directly across the street from anchor commercial retail tenants stores such Target, Food For Less, Taco Bell, Wing stop, Gas Station, etc... All great long-term tenants with significant 25%+ rent increase potential. Breakdown of 7-unit apartment consists of 5 units 1 bedroom/1baths and 2 studio units. Two separate buildings with all separate individual gas and individual electric meters. Also, additional extra monthly income with onsite coin operated laundry (less than 1-year old commercial front loader washer and 3-year-old commercial dryer). Tenants really appreciate the convenience of onsite laundry. Apartment well maintained with many recent upgrades such as Bradford White water boilers, energy efficient dual pane vinyl windows for all 7 units, new copper plumbing for all units along with new main waste water line to City water line. An easy to maintain investment property with strong consistent cash flow. Do you math, this property is priced at approx. $200K price per unit.

Additional Information

Pool Description
None
Heat
Wall Furnace
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
7
Gross Scheduled Income
$96,360
Operating Expense
13176

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Chuck Chavez from Century 21 Allstars

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.