1426 Cherry Avenue, Long Beach, CA 90813

About this property

Well located 4 unit property just outside of Downtown Long Beach. Major value add potential with a 37% upside on actual income. Huge ADU development potential with 10 single garages in a separate structure on the lot. Excellent unit mix with 2 three bedroom units and 2 two bedroom units. Strong GRM on market rents of 12.5X before considering any ADU conversion. Attractive 30 year fixed residential financing available. Perfect first time apartment investment purchase. Dense rental market with low vacancy.

Listing description from the December 2021 sale, as reported to CRMLS.

Sale history

$1,297,500

Sold December 2021 · listed $1,350,000, on market September 2021 · MLS #SB21214472 · Source: CRMLS

Listing Agent: Anthony Walker · Listing Office: Buckingham Investments, Inc · Contact: 310 982-7055 · Bought with: General NONMEMBER · NONMEMBER MRML

$759,675

Sold February 2017 · listed $785,000, orig. $789,000, on market August 2016 · MLS #PW16173348 · Source: CRMLS

Listing Agent: Julie Haff · Listing Office: H.M. Investment Properties · Contact: 562-606-0788 · Bought with: Anthony Walker · Buckingham Investments, Inc.

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