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101 Cherry Ave, Long Beach, CA 90802
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101 Cherry Ave Long Beach, CA 90802

$3,800,000 Sold Price as of 04/10/2024
  • 8 Beds
  • 17 Baths
  • 12,980 Sq.Ft.
Sold
$3,800,000 Sold Price as of 04/10/2024 Refinance Your Mortgage
Map preview of 101 Cherry Ave, Long Beach, CA 90802

Property Overview: 101 Cherry Ave Long Beach, CA has 8 bedrooms, 17 bathrooms, 12,980 living square feet and 10,018 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Park Side West Garden Apartments is a 17-unit multifamily investment property located at 101 - 107 Cherry Avenue in Long Beach, CA. Park Side West offers an attractive mix of studio and one-bedroom floor plans and amenities including private balconies (select units) and storage lockers. Units feature a mix of tile and carpet flooring, as well as granite countertops, tile backsplashes, and walk-in closets. Park Side West benefits from its unparalleled Alamitos Beach location, adjacent to Bixby Park and a short walk to popular local beaches. The property is just 0.40 miles from Retro Row, providing residents with easy access to some of Long Beach’s most unique and vibrant shops and restaurants. Additionally, residents enjoy Park Side West’s close proximity to Downtown Long Beach, the city’s cultural and financial hub. Furthermore, the property is just over 1.50 miles from the abundance of retail, dining, and entertainment options at Belmont Shore’s 2nd Street. The property’s ideal Long Beach location surrounded by neighborhoods offering a wide variety of outdoor activities as well as employment, transportation, and retail amenities is a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at Park Side West Garden Apartments.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 5 minutes ago | Last updated: April 10th, 2024 | Source CRMLS | DOM: 90

Home details

Lot Sq. Ft
10,018
HOA Dues
$0/mo
Year built
1948
Garage
--
Property Type:
Apartment
Status
Sold
MLS#
OC23217739
City
Long Beach
County
Los Angeles
Time on Site
198 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 17
  • Total # of Buildings: 1
  • # of Electric Meters: 17
  • # of Gas Meters: 17
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 9
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $13,550
  • Total Rent: $13,550
  • Pro Forma/Market Rent: $16,155
Unit Breakdown 2
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $12,280
  • Total Rent: $12,280
  • Pro Forma/Market Rent: $14,965
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.28%
  • Gross Rent Multiplier: 13.71
  • Gross Scheduled Income: $309,960
  • Net Operating Income: $181,712
  • Gross Operating Income: $300,661
  • Vacancy Allowance: $9,299
Annual Expense Breakdown
  • Total Operating Expense: $118,949
  • Electric: $2,074
  • Gas/Fuel: $2,075
  • New Taxes: $52,882
  • Trash: $2,075
  • Insurance: $11,050
  • Maintenance: $10,200
  • Professional Management: $12,026
  • Water/Sewer: $2,075
  • Other Expenses: $24,492
  • Other Expense Description: Misc

Property Details for 101 Cherry Ave

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 17
  • Parcel Number: 7265020015
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Nearby Cross Streets: Cherry Avenue & Ocean Boulevard
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 101 Cherry Ave

Last sold for $3,800,000 on April 10th, 2024

  • April, 2024

  • Apr 10, 2024

    Date

    Sold

    CRMLS: OC23217739

    $3,800,000

    Price

  • Nov 28, 2023

    Date

    Active

    CRMLS: OC23217739

    $4,250,000

    Price

  • August, 2009

  • Aug 21, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 101 Cherry Ave

Assessed Value (2020): $1,861,946
Year Land Value Improved Value Assessed Value
2020 $970,166 $891,780 $1,861,946

Home Value Compared to the Market

This property vs the competition

101 Cherry Ave sold on April 10, 2024 for 376.46% higher than the current median sold price for the city of Long Beach which is $892,000. The median sold price per/sqft for Long Beach is $659 and this home is sold at $327.43 per/sqft which puts the price per square foot 50.31% lower than the current median sale per square foot for the city of Long Beach.

About 101 Cherry Ave

Detailed summary of property

101 Cherry Ave is a apartment that recently sold in Long Beach, CA 90802. This apartment offered 8 bedrooms, 17 bathrooms, roughly 12,980 living square feet, and sits on an approximately 10,018 square foot lot. 101 Cherry Ave was first listed on ArdentRealEstateGroup.com on November 29, 2023. The homeowner sold the property for $3,800,000. Home in Long Beach are selling for a median price of $892,000 and a median price per square foot of $659. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 376.46% higher than the current median priced home. Local homes that are currently for sale include 205 Huntington St, 1515 W 103rd St and 13716 Penn St. While the average home in Long Beach, CA is selling in 51 days, 101 Cherry Ave has a days on market of 90 days. There are currently 699 homes for sale in the Long Beach real estate market and 394 of them are single family homes while 285 of them are condos and 20 are townhomes. For more information on this home for sale at 101 Cherry Ave Long Beach, CA 90802 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 101 Cherry Ave

Public county record property details
Beds
8
Baths
17
Year built
1948
Sq. Ft.
12,980
Lot Size
10,005
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
11,12
APN
7265-020-015

The source for these homes facts are from public records.

90802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$540,000
Median List Price/Sq.Ft.
$627
Median Sold Price
$450,000
Median Sold Price/Sq.Ft.
$580
Total Inventory
147
Median Sale to List Price %
90.91%
Avg Days on Market
58
Loan Type
Conventional (60.71%), FHA (7.14%), VA (0%), Cash (21.43%), Other (10.71%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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