Long Beach, CA 90805,6501 Cherry AVE
Long Beach, CA 90805,6501 Cherry AVE
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$3,400,000

$3,975,000

14.5%
Est.Price: ?

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Est. payment /mo

11,391 SqFt


SOLD DATE : 10/13/2023

Key Details

Sold Price $3,400,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Square Footage 11,391 sqft

Price per Sqft $298

Subdivision North Long Beach (Nlb)

MLS Listing ID OC22239480

Sold Date 10/13/23

HOA Y/N No

Year Built 1961

Lot Size 0.252 Acres

Property Description

Offering a strong current capitalization rate of 5.18% at the asking price this property lines up well with todays interest rates. Featuring 10 one bedroom and 6 two bedroom apartment units, this 16 unit building in Long Beach is situated in the middle of a dynamic area. Recent favorable zoning changes, in the 90805 zip code, the city of Long Beach has set the stage for substantial developements over the next 5 to 10 years. Paving the way for strong local job growth. In addition, the property is within the shere of influence of the Ports of Long Beach and Los Angeles. The building is clean and offers rental upside.

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Zoning LBCCA

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Fireplace No

Laundry Common Area

Exterior

Garage Assigned

Garage Spaces 5.0

Carport Spaces 5

Garage Description 5.0

Pool None

Community Features Urban

Parking Type Assigned

Total Parking Spaces 10

Private Pool No

Building

Lot Description 16-20 Units/Acre

Sewer Sewer Tap Paid

Water Public

New Construction No

Others

Senior Community No

Tax ID 7114006051

Energy Description 6185.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Cash to Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Mike Marcu • Mike Marcu, Broker
Bought with Mike Marcu • Mike Marcu, Broker

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"REAL" Barkley-Romero

CEO | DRE# SA695240000 | DRE# 02100184

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