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1101 Cherry Ave, Long Beach, CA 90813
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1101 Cherry Ave Long Beach, CA 90813

$2,550,000 Sold Price as of 10/18/2021
  • 0 Beds
  • 16 Baths
  • 4,508 Sq.Ft.
Sold
$2,550,000 Sold Price as of 10/18/2021 Refinance Your Mortgage
Map preview of 1101 Cherry Ave, Long Beach, CA 90813

Property Overview: 1101 Cherry Ave Long Beach, CA has -- bedrooms, 16 bathrooms, 4,508 living square feet and 3,961 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 4.93% in place Cap Rate on this pride of ownership 16-unit Apartment Building near the highly desirable Rose Park and Alamitos Beach. The building features newer systems with the entire electrical completely replaced and the plumbing updated to copper. The current owner also did a substantial amount of foundation work and had the foundation certified within the past 2 years. Many of the units have had full renovations but most with many upgrades. 1101 Cherry Ave features a unit mix of (16) Studio Units, offered at only $159k/door! These clean units feature tile floors and countertops, ceiling fans, new paint and plenty of storage space. The subject property also features washers and dryers on site for all tenants. The upside in the Long Beach market is limitless, with $6 Billion in new capital pouring into projects such as the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, The Pacific and Queen Mary Island.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 22

Home details

Lot Sq. Ft
3,961
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
SB21172174
City
Long Beach
County
Los Angeles
Time on Site
1140 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 1
  • # of Electric Meters: 16
  • # of Gas Meters: 16
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 16
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $16,533
  • Total Rent: $16,533
  • Pro Forma/Market Rent: $20,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.93%
  • Gross Rent Multiplier: 12.85
  • Gross Scheduled Income: $198,396
  • Net Operating Income: $125,692
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $66,753
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 1101 Cherry Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 16
  • Parcel Number: 7261031026
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Cherry and Anaheim
Neighborhood Information
  • Community Features: Biking, Curbs, Golf, Gutters, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 1101 Cherry Ave

Last sold for $2,550,000 on October 18th, 2021

  • August, 2021

  • Aug 27, 2021

    Date

    Active Under Contract

    CRMLS: SB21172174

    $2,550,000

    Price

  • Aug 5, 2021

    Date

    Active

    CRMLS: SB21172174

    $2,550,000

    Price

  • October, 2018

  • Oct 17, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,859,000

    Price

  • July, 2009

  • Jul 31, 2009

    Date

    Sold (Public Records)

    Public Records

    $820,000

    Price

Show More

Tax History for 1101 Cherry Ave

Assessed Value (2020): $1,901,780
Year Land Value Improved Value Assessed Value
2020 $876,180 $1,025,600 $1,901,780

Home Value Compared to the Market

This property vs the competition

1101 Cherry Ave sold on October 18, 2021 for 211.36% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $565.66 per/sqft which puts the price per square foot 9.93% lower than the current median sale per square foot for the city of Long Beach.

About 1101 Cherry Ave

Detailed summary of property

1101 Cherry Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered -- bedrooms, 16 bathrooms, roughly 4,508 living square feet, and sits on an approximately 3,961 square foot lot. 1101 Cherry Ave was first listed on ArdentRealEstateGroup.com on August 5, 2021. The homeowner sold the property for $2,550,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 211.36% higher than the current median priced home. Local homes that are currently for sale include 1700 Pacific Ave, 229 Roswell Ave and 435 W 11th St. While the average home in Long Beach, CA is selling in 62 days, 1101 Cherry Ave has a days on market of 22 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 1101 Cherry Ave Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1101 Cherry Ave

Public county record property details
Beds
--
Baths
16
Year built
1923
Sq. Ft.
4,508
Lot Size
3,960
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
A
APN
7261-031-026

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$560,000
Median List Price/Sq.Ft.
$553
Median Sold Price
$495,000
Median Sold Price/Sq.Ft.
$587
Total Inventory
35
Median Sale to List Price %
99.02%
Avg Days on Market
24
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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(714) 706-1823

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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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