Property Description

We are pleased to exclusively offer for sale this 3 Unit multi-family investment located in the vibrant 90802 submarket of Long Beach. This large 3,642 SF triplex is steps away from 4th Street and strategically positioned near Retro Row. This is the first time the property has been on the market in 20 years and the unit interiors have been meticulously maintained representing a true pride of ownership asset. In addition to the building’s excellent location, one of the features is (2) generously sized 2 bedroom/1 bath units and (1) large 1 bedroom/1 bath unit. Further, the 1 bedroom back unit contains a spacious patio and gazebo – idyllic for all residents. Additionally, the upper 2 Bedroom unit will be delivered VACANT at the close of escrow. Along these lines, the property presents itself as an excellent owner user opportunity for buyer(s) looking to live in the vacant unit while utilizing the income from the other (2) to offset their annual debt service. Each unit is separately metered for gas and electricity, lowering overhead costs for the owner. As it stands, the offering presents strong day 1 income with a current CAP Rate of 4.45% and future upside given the areas excellent rental demand. In addition, the tenants have access to a garage and elongated driveway which equ

Features
: Common Area
: Back Yard, Other, Front Yard, Landscaped, Garden
: Int Access From Garage, Other
Address Map
CA
Los Angeles
Long Beach
90802
480 Cherry Avenue
0
W119° 49' 56.8''
N33° 46' 23.6''
On the corner of 4th St, and Cherry Ave
MLS Addon
Lyon Stahl Investment Real Estate, Inc.
Keaton Quaack
keaton@lyonstahl.com
CR369711285
CR362240842
CR8872456
: Private

Residential Income For Sale

480 Cherry Avenue, Long Beach, California 90802

3,642 Sqft
$1,249,900
Listing ID #CRSB25063034
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : CRSB25063034
Price : $1,249,900
Square Footage : 3,642 Sqft
Year Built : 1930
Lot Area : 6,276 Sqft
Status : Active
Property SubType : Triplex
Agent info
Michael Roberts
Contact Agent