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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!

Features
: Ductless
2
: Gas & Electric Dryer Hookup, Individual Room, Inside, In Closet
0
: Curbs, Sidewalks, Street Lights, Park, Biking, Dog Park
: Spanish
Additional Information
Buckingham Investments, Inc
0
sbmahomat
SB1301700
Matthew
7275018033
: Standard
4
Two
25
: Second Garage Attached

Multi-Family For Sale

315 Cherry Avenue, Long Beach, California 90802

6,392 Sqft
$3,195,000
Listing ID #SB24022524
Basic Details
Status : Active
DaysOnMarket : 202
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : SB24022524
Price : $3,195,000
Living Area : 6,392 Sqft
Lot Size : 6,756 Sqft
Year Built : 1923
Country : US
State : California
County : Los Angeles
City : Long Beach
Zipcode : 90802
Price Per Square Foot : $500
Water front Features : Ocean Side Of Highway 1
Subdivision : Alamitos Beach (AB)
ModificationTimestamp : 2024-08-22 16:11:04
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