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1081 Cherry Avenue, Long Beach, CA 90813

Long Beach
Local realty services provided by:CENTURY 21 Coastal Properties
1081 Cherry Avenue,Long Beach, CA 90813
$1,100,000
  • 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:$1,100,000
  • Price per sq. ft.:$396.68

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 6.42% 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...

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Home facts

  • Year built:1923
  • Listing ID #:26676253
  • Added:63 day(s) ago
  • Updated:June 10, 2026 at 10:35 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:$1,100,000
  • Price per sq. ft.:$396.68

Parking

  • Total parking spaces:5
  • Parking description:Driveway, On Street, Shared Driveway
The information being provided by California Regional MLS (Southern California) is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS (Southern California). CENTURY 21 Coastal Properties is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of CENTURY 21 Coastal Properties, a broker participant of California Regional MLS (Southern California). This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by California Regional MLS (Southern California) and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2021 California Regional MLS (Southern California). All rights reserved. CRMLS Member Broker: Jennette Toderick

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