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1426 Cherry Avenue

Long Beach, CA 90813
  • $1,350,000
  • STATUS: CONTINGENT
  • ON SITE: 18 Days
  • ID#: SB21214472
Under Contract
UPDATED: 57 min ago
$1,350,000
  • 10
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Well located 4 unit property just outside of Downtown Long Beach. Major value add potential with a 37% upside on actual income. Huge ADU development potential with 10 single garages in a separate structure on the lot. Excellent unit mix with 2 three bedroom units and 2 two bedroom units. Strong GRM on market rents of 12.5X before considering any ADU conversion. Attractive 30 year fixed residential financing available. Perfect first time apartment investment purchase. Dense rental market with low vacancy. Well located 4 unit property just outside of Downtown Long Beach. Major value add potential with a 37% upside on actual income. Huge ADU development potential with 10 single garages in a separate structure on the lot. Excellent unit mix with 2 three bedroom units and 2 two bedroom units. Strong GRM on market rents of 12.5X before considering any ADU conversion. Attractive 30 year fixed residential financing available. Perfect first time apartment investment purchase. Dense rental market with low vacancy.

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This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
www.lajollaagent.com/homes/121887520
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1426 Cherry Avenue Long Beach, CA 90813

  • Price: $1,350,000
  • Status: CONTINGENT
  • Updated: 57 min ago
  • ID#: SB21214472
10
Beds
0
Baths
0
½ Baths
0.14
Acres
Neighborhood:
Long Beach (90813)
County:
Los Angeles
Area:
Long Beach (90813)
Property Description
Well located 4 unit property just outside of Downtown Long Beach. Major value add potential with a 37% upside on actual income. Huge ADU development potential with 10 single garages in a separate structure on the lot. Excellent unit mix with 2 three bedroom units and 2 two bedroom units. Strong GRM on market rents of 12.5X before considering any ADU conversion. Attractive 30 year fixed residential financing available. Perfect first time apartment investment purchase. Dense rental market with low vacancy. Well located 4 unit property just outside of Downtown Long Beach. Major value add potential with a 37% upside on actual income. Huge ADU development potential with 10 single garages in a separate structure on the lot. Excellent unit mix with 2 three bedroom units and 2 two bedroom units. Strong GRM on market rents of 12.5X before considering any ADU conversion. Attractive 30 year fixed residential financing available. Perfect first time apartment investment purchase. Dense rental market with low vacancy.
Exterior Features

Pool N/K

Interior Features

Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1

Property Features

Annual Expense Actual 30987 Buildings 2 Cfd Mello Roos Fee 806.0 Cfd Mello Roos Fee Reflects Year Gross Scheduled Income Actual 75180 Terms CashConventional Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 1488.0 Unit2 Rent Actual 1594.0 Unit3 Rent Actual 1589.0 Unit4 Rent Actual 1594.0 Zoning Public Rec

Listing provided courtesy of Buckingham Investments, Inc. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
 
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