6759 Cherry AVE

LONG BEACH, CA, 90805

$1,400,000

$477 per ft²
$1,400,000
$477 per ft²
Active
Active
 - For Sale
carpenters-square
2,930 ft²
property_type
Multi-family
calendar
Built 1958
What an amazing opportunity for that investor looking for a profitable multi-unit property. Location is key when looking for a profitable investment such as this 7 unit property conveniently located by 91 and 710 freeways. Directly across the street from anchor commercial retail tenants stores such Target, Food For Less, Taco Bell, Wing stop, Gas Station, etc... All great long-term tenants with significant 25%+ rent increase potential. Breakdown of 7-unit apartment consists of 4 units 1 bedroom/1baths and 3 studio units. One of the 3 studios is much bigger, featuring a large kitchen with a small breakfast area, and more sqft. Two separate buildings with all separate individual gas and individual electric meters. Also, additional extra monthly income with onsite coin operated laundry (less than 1-year old commercial front loader washer and 3-year-old commercial dryer). Tenants really appreciate the convenience of onsite laundry. Apartment well maintained with many recent upgrades such as Bradford White water boilers, energy efficient dual pane vinyl windows for all 7 units, new copper plumbing for all units along with new main waste water line to City water line. An easy to maintain investment property with strong consistent cash flow. Do you math, this property is priced at approx. $200K price per unit.
MLS® ID:
DW21251206MR
Listed:
11/16/21
Updated:
8/12/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Community
Fireplace
None
Cooling
Wall/Window Unit(s)
Heating
Wall

Exterior/Building Features

Lot Size
4,294 ft² lot
Sewer
Public Sewer

Other Property Details

Garage
No
Parking
Assigned, Driveway
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2
Zoning
LBCCA

Property History

Date
Event
Price
Value
5/24/22
Active
-
-
4/14/22
Active
-
-
3/22/22
Pending
-
-
3/7/22
Price Change
$1,400,000
-1%
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