2 months on rocket

1825 Cherry Ave, Long Beach, CA, 90806

$1,550,000

Home List Price

$10,000*

Closing Credit

7 Bedrooms
5 Baths
3,986 SqFt
$389/SqFt
House
Schools Nearby

Location

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1825 Cherry Ave, Long Beach$1,550,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingDriveway
Garage1 space
Year Built1903
HeatingNatural Gas
CoolingNone
FireplaceNone
ViewNone
MLS #24362089
Lot Size0.13 Acres
StatusActive

About 1825 Cherry Ave

***Opportunity Zone***Explore the exceptional investment opportunity at 1825 Cherry Ave, Long Beach, CA. This property comprises seven fully occupied buildings in the sought-after prime area of Long Beach, offered at an attractive price of $221k per unit. Currently, the property yields an impressive 5.35% Cap Rate and boasts a 15 Gross Rent Multiplier (GRM), with potential for substantial growth to a projected 9.96% Cap Rate and 9.96 GRM.Situated on a generous lot of approximately 5,837 SF, the property provides ample parking spaces for convenience. Notably, this asset is not subject to LA City rent control, allowing for significant annual rent increases of 8.8% (5% + CPI), offering substantial future upside potential.Conveniently located in prime Long Beach, just moments away from Signal Hill and a short drive to downtown Long Beach, this property presents a prime investment opportunity in a thriving and desirable location. 2 Structures - Front House has been divided into 3 Units. Rear structure consists of 2 Studios and 2-1 BR Units. Upside in Rents. All Utilities are split and paid for by Tenants. Close proximity to busy PCH/Cherry intersection. Among recent upgrades is a Fire Sprinkler system.

Property Details

Property Features

Property Information:

  • Architectural Style: Spanish
  • Year Built: 1903
  • Stories: 2
  • Living Area: 3,986 SqFt

Listing Office:

  • Office Name: Wiggs & Associates
  • Office Phone: (213) 924-0259
  • Listing Agent: Royce Jefferson

Interior Features

Interior Information:

  • Appliances: Gas Oven, Gas Range, Refrigerator
  • Flooring Type: Tile, Wood
  • Fireplace: None

Bedroom and Bathroom Information:

  • Total Bedroom Count: 7

Exterior Features

Exterior Information:

  • Private Pool: No
  • View: None

Parking Information:

  • Garage Space: 1 space
  • Parking: Driveway

Lot Features

Lot Information:

  • Lot Size: 0.13 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas
  • Cooling: None

Other

Directions Information:

  • Directions: 405FWY, Cherry Ave South

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,550,000
  • Price Per SqFt: $389/SqFt

Tax Information:

  • Annual Amount: $16,701
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Long Beach, CA.

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Long Beach, CA

City

Med. Sold Price

$790K

Med. Price/SqFt

$612

Avg. Days On Market

31

# of Sold Homes

174

1825 Cherry Ave vs Long Beach

60 DAYS ON ROCKET

+29 Days

$1,550,000

+$760K More

$389/SqFt

-$224 Less

KEY TAKEAWAY

This property is $760K more than the Median Sold Price and $224/SqFt less than other homes in Long Beach, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #24362089

Listing Office:

  • Office Name: Wiggs & Associates
  • Office Phone: (213) 924-0259
  • Listing Agent: Royce Jefferson

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/27/2024, 10:25:19 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$16,701$1,250,000
2020$4,964$268,064
2019$4,742$262,808
2018$4,686$257,656
2017$4,686$252,605

History based on county public records data.

Payment Calculator

$7,803

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,713

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-1169401
2
/10

  • Whittier Elementary School

  • 1761 Walnut Ave

  • 0.30 miles

  • Public District Grades KG-5

school-card-donut-1169402
7
/10

  • Alvarado Elementary School

  • 1900 E 21st St

  • 0.33 miles

  • Public District Grades KG-5

school-card-donut-1169403
5
/10

  • Roosevelt Elementary School

  • 1400 E 20th St

  • 0.42 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $27,903. Residents of Long Beach, CA typically earn less than $35k each year. Residents typically live in single, no kids family. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1825 Cherry Ave

What is the listing price of this property?

The listing price of 1825 Cherry Ave property is $1,550,000.

What type of property is this?

The property 1825 Cherry Ave is a house located in Long Beach, California, 90806.

Is this property for sale now?

Active Listing: 1825 Cherry Ave is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $16,701 (source: MLS/based on county public records data).

How many bedrooms and bathrooms does this property have?

The property at 1825 Cherry Ave has 7 bedrooms and 5 bathrooms.

What is the square footage of this property?

The property 1825 Cherry Ave is 3,986 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 1825 Cherry Ave is 1903.

Rocket Homes›California›Los Angeles County›Long Beach›90806›1825 Cherry Ave

This home is located at 1825 Cherry Ave in Long Beach, CA and zip code 90806 in the The Harbor neighborhood. This 3,986 square foot home, which was built in 1903, sits on a 0.13 acre lot. Features: 7 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since February 26, 2024 and is currently priced at $1,550,000.

Long Beach, CA housing market in March 2024 saw over 76 listings sold above listed price, more than 39 sold at listed price and over 59 sold below. Between February 2024 and March 2024, Long Beach, CA real estate market has seen increase in the number of listings by 1.8%. Listings spent 31 days on the market in March 2024, and had a median list price of $790,000 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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