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1081 Cherry Avenue, Long Beach, CA 90813

Long Beach
Local realty services provided by:CENTURY 21 LOTUS
1081 Cherry Avenue,Long Beach, CA 90813
$1,050,000
  • 2 Beds
  • 6 Baths
  • 2,773 sq. ft.
  • Multi-family
  • Pending
Listed by: john 'jack' mccann
Office: lyon stahl investment real estate, inc.310-425-9838
MLS#:26676253
Source:CRMLS

Price summary

  • Price:$1,050,000
  • Price per sq. ft.:$378.65

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:201 day(s) ago
  • Updated:October 26, 2026 at 08:49 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:$1,050,000
  • Price per sq. ft.:$378.65

Parking

  • Total parking spaces:5
  • Parking description:Driveway, On Street, Shared Driveway
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