1081 Cherry Avenue
Long Beach, CA 90813
2
Bed
0
Bath
2,773Sqft
6,187Sqft(Lot)
1081 Cherry Avenue presents investors with a rare opportunity to acquire a fully occupied, cash-flowing six-unit asset in Long Beach at a compelling 6.42% current cap rate with immediate upside on the table. Offered at $1,100,000, $183,333 per unit and $397 per square foot, this 1923 built property delivers strong in place income of $110,208 annually against a lean 33% expense ratio, producing a current NOI of $70,569 with a clear path to $92,263 at pro forma rents. The property consists of one two-bedroom one-bath unit and five studios across 2,773 square feet of building on a 6,187 square foot lot. All six units are occupied with tenants paying gas and electric, and the building features an on-site laundry facility and garage parking for the two-bedroom unit. Studios are currently averag
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total Bedrooms: 2Bathroom Information
Total Baths: 6 Full Baths: 0 Half Baths: 0 -
Cooling Features
None Air ConditioningHeating Source
Wall Furnace Has Heating
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Building Information
Year Built: 1923 Building Area Total: 2,773
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Lot Details
Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.142 Lot Size Dimensions: 44x140 -
Lot Size Source: Vendor Enhanced Lot Size Square Feet: 6187
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Listing Price Information
Original List Price: 1,100,000 Listing Contract Date: 2026-04-07 -
Lease Information
Listing Agreement: Seller Reserved
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Tax Information
Parcel Number: 7267014025
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Garage and Parking
Garage Description: Driveway,Shared Driveway,On StreetHomeowners Association
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Other Property Info
Source Listing Status: Active Source Neighborhood: 4 - Downtown Area, Alamitos Beach Postal Code Plus 4: 3940 Directions: On Cherry Avenue in Long Beach. Zoning: LBR2N Source Property Type: Residential Income Area: 4 - Downtown Area, Alamitos Beach -
Building and Construction
Property Age: 103 Common Walls: No Common Walls Year Built Source: Vendor Enhanced Total Square Feet Living: 2773 Levels or Stories: Multi/Split
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 1036 Cherry Avenue, Long Beach, CA, 90813 | $2,350,000 | 10 | -- | 4,722 | 4,722 SqFt |
| 1735 E 10th Street, Long Beach, CA, 90813 | $3,047,700 | 22 | -- | 10,253 | 10,253 SqFt |
| 1050 Gaviota, Long Beach, CA, 90813 | $4,500,000 | -- | -- | 12,928 | 12,928 SqFt |
| 1419 E 15th, Long Beach, CA, 90813 | $995,000 | -- | -- | 2,292 | 2,292 SqFt |
| 755 Gaviota Avenue, Long Beach, CA, 90813 | $2,950,000 | -- | -- | 6,640 | 6,640 SqFt |
| 933 Walnut Avenue, Long Beach, CA, 90813 | $995,000 | 3 | 2 | 1,312 | 1,312 SqFt |
| 1056 Hoffman, Long Beach, CA, 90813 | $1,700,000 | 6 | 6 | 2,560 | 2,560 SqFt |
| 1720 Cerritos Avenue, Long Beach, CA, 90813 | $2,100,000 | -- | -- | 6,074 | 6,074 SqFt |
| 1377 Warren Avenue, Long Beach, CA, 90813 | $1,627,000 | 4 | -- | 4,944 | 4,944 SqFt |
| 1416 Orange, Long Beach, CA, 90813 | $1,299,999 | 6 | 4 | 2,926 | 2,926 SqFt |
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ByOwner last updated this listing 06/05/2026 @ 16:48
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