315 Cherry AVE, Long Beach, CA 90802 – SB24022524

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$3,195,000

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6,756 Sqft Lot

Active

315 Cherry AVE Long Beach, CA 90802

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Michelle M Randazzo

michellesells@rpnevada.com +1(702) 412-1049

UPDATED:

12/05/2024 05:28 AM

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID SB24022524

Construction Status Turnkey

HOA Y/N No

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

Interior

Interior Features Built-in Features, Ceiling Fan(s), Multiple Staircases, Open Floorplan, Quartz Counters, Recessed Lighting

Heating Ductless

Cooling None

Flooring Laminate, Vinyl, Wood

Fireplaces Type None

Fireplace No

Laundry Electric Dryer Hookup, Gas Dryer Hookup, Inside, Laundry Closet, Laundry Room

Exterior

Exterior Feature Lighting

Parking Features 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

Total Parking Spaces 4

Private Pool No

Building

Lot Description 0-1 Unit/Acre, Back Yard, Front Yard, Landscaped, Near Park, Near Public Transit, Paved, Street Level

Story 2

Entry Level Two

Foundation Raised

Sewer Public Sewer

Water Public

Architectural Style Spanish

Level or Stories Two

Additional Building Second Garage

New Construction No

Construction Status Turnkey

Others

Senior Community No

Tax ID 7275018033

Security Features Gated Community,Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Listed by Matthew Mahowald • Buckingham Investments, Inc • 310 756-5511

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Michelle M Randazzo

REALTOR® | RE.0196837

+1(702) 412-1049

315 Cherry AVE Long Beach, CA 90802

Michelle M Randazzo

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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315 Cherry AVE