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Tina Lucarelli

[email protected] +1(310) 738-8089

Listed by Matthew Jeffrey Mahowald • Buckingham Investments, Inc

$ 3,195,000

Est. payment -/mo

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Active

315 Cherry Avenue Long Beach, CA 90802

6,392 SqFt

UPDATED:

12/24/2024 04:00 PM

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,392 sqft

Price per Sqft $499

Subdivision Alamitos Beach

MLS Listing ID SB-24022524

Style Spanish

Year Built 1923

Lot Size 6,756 Sqft

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!

Location

State CA

County Los Angeles

Zoning LBR1N

Interior

Interior Features Ceiling Fan(s), Built-In Features, 2 Staircases, Open Floorplan, Recessed Lighting

Heating Ductless

Cooling None

Flooring Laminate, Vinyl, Wood

Fireplaces Type None

Laundry Gas & Electric Dryer Hookup, In Closet, Individual Room, Inside

Exterior

Exterior Feature Lighting

Parking Features Garage, Public

Garage Spaces 4.0

Pool None

Community Features Biking, Curbs, Dog Park, Park, Sidewalks, Street Lights

Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected

View Y/N No

View None

Building

Lot Description Front Yard, Landscaped, Level with Street, Near Public Transit, Park Nearby, Paved, 0-1 Unit/Acre, Back Yard

Sewer Public Sewer

Tina Lucarelli

Advisor | License ID: 02102354

+1(310) 738-8089

Tina Lucarelli

315 Cherry Avenue Long Beach, CA 90802

Key Details

Location

Interior

Exterior

Building

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315 Cherry Avenue