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8-Units-6% Cap-Renovated Units In Long Beach 1036 Cherry Ave 8 Unit Apartment Building $3,573,029 CAD ($446,629 CAD/Unit) 6.11% Cap Rate Long Beach, CA 90813

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INVESTMENT HIGHLIGHTS

8 renovated non-rent controlled units with a current cap rate of 6.1%, ensuring immediate cash flow.
Upgraded units feature modern cabinets, flooring, kitchens, bathrooms, and exterior enhancements.
Prime North Long Beach location near beaches and major freeways, offering strong rental demand and no local rent control allowing 8% annual increases.

Mix of one 3-bedroom, one-bath unit and seven 1-bedroom, one-bath units, including two new attached ADUs.
Individually metered utilities with tenants responsible for gas, electricity, and trash, reducing operating expenses.

EXECUTIVE SUMMARY

8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6.1% from day 1! Excellent unit mix of 1 (3bed/1bath) unit and 7 (1bed/1bath) units including 2 brand-new attached ADUs. Several units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash, further minimizing the operating expenses. Non-LA-City rent-controlled asset allowing significant 8% annual rent increases (5%+CPI) for future upside. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions, including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

PROPERTY FACTS

Price	$3,573,029 CAD	Building Class	C
Price Per Unit	$446,629 CAD	Lot Size	0.13 AC
Sale Type	Investment	Building Size	4,722 SF
Cap Rate	6.11%	Average Occupancy	75%
Gross Rent Multiplier	11.78	No. Stories	2
No. Units	8	Year Built	1953
Property Type	Multifamily	Parking Ratio	1.27/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	LBR2N

Price	$3,573,029 CAD
Price Per Unit	$446,629 CAD
Sale Type	Investment
Cap Rate	6.11%
Gross Rent Multiplier	11.78
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.13 AC
Building Size	4,722 SF
Average Occupancy	75%
No. Stories	2
Year Built	1953
Parking Ratio	1.27/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	LBR2N