315 Cherry Avenue
Long Beach, CA, 90802
$3,195,000
Beds
0 Baths
SqFt
0.16 Acres
Add
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 &#38' Bixby Park), local beaches (Alamitos &#38' Junipero Beach), local restaurants (4th Street Corridor &#38' 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!

Property Details

Price:
$3,195,000
MLS #:
SB24022524
Status:
Active
Baths:
0
Address:
315 Cherry Avenue
Type:
Residential Income
Subtype:
Commercial/Residential
Subdivision:
Alamitos Beach AB
Neighborhood:
4downtownareaalamitosbeach
City:
Long Beach
Listed Date:
Jan 31, 2024
State:
CA
ZIP:
90802
Lot Size:
6,756 sqft / 0.16 acres (approx)
Year Built:
1923
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Schools

Interior

Appliances
None
Cooling
None
Fireplace Features
None
Flooring
Laminate, Vinyl, Wood
Heating
Ductless
Interior Features
2 Staircases, Built-in Features, Ceiling Fan(s), Open Floorplan, Quartz Counters, Recessed Lighting

Exterior

Community Features
Biking, Curbs, Dog Park, Park, Sidewalks, Street Lights
Electric
Electricity – On Property, Standard
Exterior Features
Lighting
Fencing
Good Condition, Security
Foundation Details
Raised
Garage Spaces
4.00
Lot Features
0-1 Unit/ Acre, Back Yard, Front Yard, Landscaped, Level with Street, Near Public Transit, Park Nearby, Paved
Parking Features
Garage, Public
Parking Spots
4.00
Pool Features
None
Roof
Flat
Security Features
Gated Community, Smoke Detector(s)
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
None
Water Source
Public

Financial

Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Map

Community

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315 Cherry Avenue
Long Beach, CA