$1,050,000

1081 Cherry Avenue, Long Beach, CA 90813

  • 2 beds |
  • 6 baths |
  • 2,773 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1923
  • Property Lot Size Icon6,186sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $379/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

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 6.42% current cap rate with immediate upside on the table. Offered at $1,100,000, $183,333 per unit and $397 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 $70,569 with a clear path to $92,263 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 GRM compresses to 8.45 and the cap rate expands to 8.39%, both favorable against comparable sales in the submarket which are averaging a 6.09% cap rate and 11.06 GRM. For the value-add investor seeking strong in-place cash flow with meaningful upside ahead, 1081 Cherry Avenue delivers day-one income, a below-market rent profile with room to grow, and the kind of returns that get stronger over time as rents are pushed to market through natural turnover.

Listing Status:
Active
Date Added:
April 7, 2026
Data Last Updated:
July 5, 2026 at 12:16AM
Listing Office:
Lyon Stahl Investment Real Estate, Inc. : 310-425-9838
Listing Agent:
John 'Jack' McCann : 310-382-1063
MLS ID:
26676253
  • A/C: None
  • Heating: Wall Furnace
  • Parking: DrivewayShared DrivewayOn StreetParking spaces: 5
  • General: 0
  • Originating MLS: CRMLS_CL
  • County: Los Angeles
  • Zoning: LBR2N7267014025
  • Source: CRMLS_CL

This listing courtesy of John 'Jack' McCann , Lyon Stahl Investment Real Estate, Inc.

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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