125 Cherry Avenue, Long Beach, CA 90802
Property · 2 recorded sales since 2017
Sold September 2019
Listing Agent: Robert Stepp (DRE #01456379) · Listing Office: Keller Williams Pacific Estate · Contact: 562-513-7800 · Bought with: Steven Bogoyevac · Steven M. Bogoyevac, Broker · MLS #PW19179785 · Source: CRMLS
About this property
125 Cherry Avenue is a 9-unit investment opportunity in prime Alamitos Beach, just two blocks from the ocean. The property offers a desirable mix of (2) studio units, (6) one-bedroom/one-bath units and (1) two-bedroom/1.5 bath unit. All units have been renovated with hardwood and wood-style luxury plank flooring, quartz countertops, Shaker-style cabinetry, stainless steel appliances and designer fixtures and hardware. Additional building features include secure, gated entry, bike storage racks, and a modern community BBQ/dining/entertainment courtyard. The Alamitos Beach location gives tenants close access to outdoor activities at Bixby Park and amenities at Fourth Street/Retro Row. This property provides an excellent opportunity for a new investor to own a turnkey asset in a submarket that commands rents that are approximately 19% higher on average than other Long beach neighborhoods. Nestled between downtown Long Beach and Belmont Shore is the charming, popular coastal neighborhood of Alamitos Beach. The area is within minutes of the best that Long Beach has to offer. Residents can walk to the wide sandy beach, bike path and volleyball courts, as well quaint bars and restaurants along the Broadway Corridor and trendy shops, restaurants and bars on Fourth Street-Retro Row. The area is also adjacent to booming Downtown Long Beach and its multitude of employment opportunities.
Listing description from the September 2019 sale, as reported to CRMLS.
Sale history
