315 Cherry Ave Long Beach, CA 90802

$3,050,000 Sold Price as of 07/29/2019

6 Beds
8 Baths
6,392 Sq.Ft.

Off Market

$3,050,000 Sold Price as of 07/29/2019 Refinance Your Mortgage

Map preview of 315 Cherry Ave, Long Beach, CA 90802

Property Overview: 315 Cherry Ave Long Beach, CA has 6 bedrooms, 8 bathrooms, 6,392 living square feet and 6,754 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

315 Cherry Ave is currently an off market home in the city of Long Beach. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Long Beach has a median list price of $799,900. The median price per/sqft for Long Beach is $637. With those numbers in mind, if you are looking to purchase a median priced home in Long Beach, CA and put 20% down you will need to save up $159,980 for the down payment and will need roughly $15,998 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Long Beach the commission could be as much as $38,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

Refinance your Current Mortgage and Save Save $

You could be saving money by taking advantage of a lower rate and reducing your monthly payment. See what current rates are at and get a free no-obligation quote on today's refinance rates.

Get Free Quote

Local Long Beach Agent

Sale History for 315 Cherry Ave

Last sold for $3,050,000 on July 29th, 2019

May, 2024
May 1, 2024

Date

Expired

CRMLS: SB24022524

$3,350,000

Price
Feb 1, 2024

Date

Active

CRMLS: SB24022524

$3,350,000

Price
Listing provided courtesy of CRMLS

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!

Continue Reading
July, 2019
Jul 29, 2019

Date

Sold (Public Records)

Public Records

$3,050,000

Price
June, 2018
Jun 19, 2018

Date

Sold (Public Records)

Public Records

--

Price
June, 2018
Jun 4, 2018

Date

Sold

CRMLS: PW18069440

$1,775,000

Price
Apr 9, 2018

Date

Pending

CRMLS: PW18069440

$1,800,000

Price
Mar 27, 2018

Date

Active

CRMLS: PW18069440

$1,800,000

Price
Listing provided courtesy of CRMLS

We are pleased to present an 8-unit apartment building located at 315 Cherry Avenue in Long Beach, California. The property was built in 1923 with beautiful Spanish architecture. It consists of 6,392 rentable square feet spread throughout a 6,754 square foot lot. There are two studio units and (6) 1-bedroom / 1-bathroom units. Some of the 1 bedroom units have washer dryer hookups as well. The property is separately metered for gas and electricity.There are 4 garages and 4 parking spaces for tenant convenience and potential owner extra income. The subject property is located in Alamitos Beach where there are an array of new developments coming in the next few years. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living just three blocks from the ocean and walking distance to Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers and grocery stores.

Continue Reading

Tax History for 315 Cherry Ave

Assessed Value (2020): $3,050,000

Year	Land Value	Improved Value	Assessed Value
2020	$1,550,000	$1,500,000	$3,050,000

About 315 Cherry Ave

Detailed summary of property

315 Cherry Ave is categorized with a use code of Apartment House (5+ Units) in Long Beach, CA 90802 and last sold on July 29, 2019 for $3,050,000. This property has 6 bedrooms, 8 bathrooms, roughly 6,392 living square feet, and sits on an approximately 6,754 square foot lot. Homes in Long Beach are selling for a median price of $760,000 and a median price per square foot of $633. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 301.32% higher than the current median priced home. 315 Cherry Ave was last sold on July 29, 2019 for $3,050,000. Local nearby listings include 1750 E Ocean Blvd #702, 1335 E Appleton St #8 and 524 Nebraska Ave #303. The average home in Long Beach, CA is selling in 54 days. There are currently 593 homes for sale in the Long Beach real estate market and 338 of them are single family homes while 242 of them are condos and 13 are townhomes. If you are the homeowner and looking to sell the home at 315 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 315 Cherry Ave

Public county record property details

Beds: 6
Baths: 8
Year built: 1923
Sq. Ft.: 6,392
Lot Size: 6,754
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 14
APN: 7275-018-033

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

$530,000

Median List Price/Sq.Ft.

$627

Median Sold Price

$505,000

Median Sold Price/Sq.Ft.

$634

Total Inventory

124

Median Sale to List Price %

96.19%

Avg Days on Market

Loan Type

Conventional (50%), FHA (3.57%), VA (3.57%), Cash (28.57%), Other (10.71%)

Thinking of Selling?

Is this your property?
Thinking of Selling?
Call, Text or Message

(714) 706-1823

Refinance your Current Mortgage and Save Save $

You could be saving money by taking advantage of a lower rate and reducing your monthly payment. See what current rates are at and get a free no-obligation quote on today's refinance rates.

Get Free Quote