$2,475,000

1036 Cherry Avenue, Long Beach, CA 90813

4,722 sqft

other
Built in 1921
5,663sqft lot
—— car garage
$524/sqft
Listed 1 month ago

Property Description

Price Reduction! 8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6.5% from day 1! Excellent unit mix of 1 (3bed/1bath) unit and 7 (1bed/1bath) units including 2 brand-new attached ADUs. Several units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash, further minimizing the operating expenses. Non-LA-City rent controlled asset allowing significant 8% annual rent increases (5%+CPI) for future upside. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Listing Status:: Active
Date Added:: December 15, 2025
Data Last Updated:: February 8, 2026 at 5:08AM
Listing Office:: Global Platinum Properties, Inc. : 424-394-1030
Listing Agent:: Armin Soleimani : 310-666-2246
MLS ID:: CL25628703

Heating: Wall Furnace

Parking: None

Originating MLS: CRMLS
County: Los Angeles

Zoning: LBR27262008019

Source: CRMLS

Presented by Veterans United Realty

This listing courtesy of Armin Soleimani , Global Platinum Properties, Inc.

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Burbank Elementary School

501 Junipero Ave, Long Beach, CA, 90814

Grades KG-5

0.49 miles away

Franklin Classical Middle School

540 Cerritos Ave, Long Beach, CA, 90802

Grades 6-8

0.73 miles away

Polytechnic High School

1600 Atlantic Ave, Long Beach, CA, 90813

Grades 9-12

1.06 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.