1081 Cherry Ave, Long Beach, CA 90813
1081 Cherry Ave, Long Beach, CA 90813
1081 Cherry Ave, Long Beach, CA 90813
9
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$1,150,000
Est. payment /mo
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2 Beds
6 Baths
2,773 SqFt
Active

1081 Cherry Ave Long Beach, CA 90813

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Roddy de la Garza

Roddy de la Garza

+1(323) 696-5375

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,773 sqft

Price per Sqft $414

MLS Listing ID 26676253

Bedrooms 2

Year Built 1923

Lot Size 6,187 Sqft

Acres 0.142

Property Sub-Type Multi-Family

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 6.08% 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 GRM compresses to 8.83 and the cap rate expands to 7.97%, 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.

Location

State CA

County Los Angeles

Area Downtown Area, Alamitos Beach

Zoning LBR2N

Rooms

Other Rooms Other

Interior

Heating Wall

Cooling None

Equipment None

Exterior

Parking Features Driveway, On street, Shared Driveway

Garage Spaces 5.0

Building

Level or Stories Multi/Split

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Lyon Stahl Investment Real Estate, Inc.

NEARBY SCHOOL & BUSINESS

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Roddy de la Garza

Roddy de la Garza

Broker Associate / Area Leader | License ID: CA 01995374 / TX 431113

+1(323) 696-5375

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1081 Cherry Ave