315 Cherry AVE Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90802
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,392 sqft
Price per Sqft $499
Subdivision Alamitos Beach (Ab)
MLS Listing ID SB24022524
Year Built 1923
Lot Size 6,756 Sqft
Property Description
Charming, turnkey, and in a prime location – this is the generational asset you have been looking for! This clean and well-maintained 8-unit property consists of six 1bed/1bath units (over 900 sqft each) and two studio units with four garages. All the units are large, allow for a ton of natural light inside, have great layouts with cool original features (like French Doors, custom built-ins, fire places, etc.). Plus, the vintage character of this classic Spanish style property has been meticulously preserved, while modern amenities have been added over time like laundry units, AC/Heating units, modern kitchens, lighting, ceiling fans, etc. in each unit. The entire property is secured, has drought-resistant landscaping, and has separate electrical and gas meters for each unit. Located within Alamitos Beach, this highly sought after neighborhood of Costal Long Beach is in close proximity to the best the city has to offer – local parks (Carroll & Bixby Park), local beaches (Alamitos & Junipero Beach), local restaurants (4th Street Corridor & Retro Row), local golf courses, public transportation, etc. Plus, this neighborhood is securely anchored by the thriving local economy that continues to grow within Downtown Long Beach. For the savvy investor, the potential may exist to convert the garages into two studio units and/or to add additional bedrooms/ bathrooms to the existing large 1bed units. Also, one might consider a short-term and/or mid-term rental strategy to boost the income even more. This perfect combination is what every tenant is looking for in this area, which keeps vacancy rates low and market rental rates as high as possible – making this a great addition to any investors portfolio!
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR1N
Rooms
Other Rooms Second Garage
Ensuite Laundry Electric Dryer Hookup,Gas Dryer Hookup,Inside,Laundry Closet,Laundry Room
Interior
Laundry Location Electric Dryer Hookup,Gas Dryer Hookup,Inside,Laundry Closet,Laundry Room
Heating Ductless
Cooling None
Flooring Laminate,Vinyl,Wood
Fireplaces Type None
Laundry Electric Dryer Hookup,Gas Dryer Hookup,Inside,Laundry Closet,Laundry Room
Exterior
Exterior Feature Lighting
Garage Garage,Public
Garage Spaces 4.0
Garage Description 4.0
Fence Good Condition,Security
Pool None
Community Features Biking,Curbs,Dog Park,Street Lights,Sidewalks,Gated,Park
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
Waterfront Description Ocean Side Of Highway
View Y/N No
View None
Roof Type Flat
Building
Lot Description 0-1 Unit/Acre,Back Yard,Front Yard,Landscaped,Near Park,Near Public Transit,Paved,Street Level
Story 2
Foundation Raised
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to New Loan,1031 Exchange
Special Listing Condition Standard