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Listed by Keaton Quaack • Lyon Stahl Investment Real Estate, Inc.
$1,249,900
Est. payment /mo
3,642 SqFt
Active
480 Cherry Avenue Long Beach, CA 90802
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,642 sqft
Price per Sqft $343
MLS Listing ID CRSB25063034
HOA Y/N No
Year Built 1930
Lot Size 6,276 Sqft
Property Sub-Type Triplex
Source Datashare California Regional
Property Description
We are pleased to exclusively offer for sale this 3 Unit multi-family investment located in the vibrant 90802 submarket of Long Beach. This large 3,642 SF triplex is steps away from 4th Street and strategically positioned near Retro Row. This is the first time the property has been on the market in 20 years and the unit interiors have been meticulously maintained representing a true pride of ownership asset. In addition to the building’s excellent location, one of the features is (2) generously sized 2 bedroom/1 bath units and (1) large 1 bedroom/1 bath unit. Further, the 1 bedroom back unit contains a spacious patio and gazebo – idyllic for all residents. Additionally, the upper 2 Bedroom unit will be delivered VACANT at the close of escrow. Along these lines, the property presents itself as an excellent owner user opportunity for buyer(s) looking to live in the vacant unit while utilizing the income from the other (2) to offset their annual debt service. Each unit is separately metered for gas and electricity, lowering overhead costs for the owner. As it stands, the offering presents strong day 1 income with a current CAP Rate of 4.45% and future upside given the areas excellent rental demand. In addition, the tenants have access to a garage and elongated driveway which equ
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Common Area
Building
Lot Description Other, Back Yard, Front Yard, Garden, Landscaped
Water Private
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