1081 Cherry Avenue, Long Beach, CA 90813

Long Beach
Local realty services provided by:Better Homes and Gardens Real Estate Everything Real Estate
1081 Cherry Avenue,Long Beach, CA 90813
$1,150,000
  • 2 Beds
  • 6 Baths
  • 2,773 sq. ft.
  • Multi-family
  • Active
Listed by: john 'jack' mccann
Office: lyon stahl investment real estate, inc.310-425-9838
MLS#:26676253
Source:CRMLS

Price summary

  • Price:$1,150,000
  • Price per sq. ft.:$414.71

About this home

1081 Cherry Avenue presents investors with a rare opportunity to acquire a fully occupied, cash-flowing six-unit asset in Long Beach at a compelling 6.08% current cap rate with immediate upside on the table. Offered at $1,150,000, $191,667 per unit and $415 per square foot, this 1923 built property delivers strong in place income of $110,208 annually against a lean 33% expense ratio, producing a current NOI of $69,944 with a clear path to $91.638 at pro forma rents. The property consists of one two-bedroom one-bath unit and five studios across 2,773 square feet of building on a 6,187 square foot lot. All six units are occupied with tenants paying gas and electric, and the building features an on-site laundry facility and garage parking for the two-bedroom unit. Studios are currently averaging $1,272 per month against a market rent of $1,600, representing an 18% rental upside that a new owner can capture through natural turnover with no heavy lifting required. At pro forma rents the...

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Home facts

  • Year built:1923
  • Listing ID #:26676253
  • Added:3 day(s) ago
  • Updated:April 11, 2026 at 10:31 AM

Rooms and interior

  • Bedrooms:2
  • Total bathrooms:6
  • Living area:2,773 sq. ft.

Heating and cooling

  • Heating:Wall Furnance

Structure and exterior

  • Year built:1923
  • Building area:2,773 sq. ft.
  • Lot area:0.14 Acres

Finances and disclosures

  • Price:$1,150,000
  • Price per sq. ft.:$414.71

Parking

  • Total parking spaces:5
  • Parking description:Driveway, On Street, Shared Driveway
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