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6551 Cherry Ave, Long Beach, CA 90805
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6551 Cherry Ave Long Beach, CA 90805

$1,061,200 Sold Price as of 07/21/2022
  • 6 Beds
  • 4 Baths
  • 3,196 Sq.Ft.
Sold
$1,061,200 Sold Price as of 07/21/2022 Refinance Your Mortgage
Map preview of 6551 Cherry Ave, Long Beach, CA 90805

Property Overview: 6551 Cherry Ave Long Beach, CA has 6 bedrooms, 4 bathrooms, 3,196 living square feet and 5,525 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We pleased to present an opportunity to acquire a 3,194 Sq Ft 4-unit building situated on a 5,525 Sq Ft lot located in the city of Long Beach, CA. The subject property is located at 6551 Cherry Avenue. The property is composed of (2) 2 Bedroom / 1.5 Bath units & (2) 1 Bedroom / 1 Bath units built in 1946.This property has 2 buildings. The front building is 1 story and contains both 1+1 units, and the back building is 2 stories containing both 2+1.5 units. 3 out of 4 of the units have laundry hookups. There is 1 single car garage rented out by one of the tenants. There are 2 parking spots available in the driveway, alongside 2 parking spaces in the back. The property also contains ample street parking. **(1) 2 BD + 1.5 BA is now vacant, Please see the attached updated OM**

Listed by John McCann | BRE #01963932 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 5 minutes ago | Last updated: July 26th, 2022 | Source CRMLS | DOM: 21

Home details

Lot Sq. Ft
5,525
HOA Dues
$0/mo
Year built
1949
Garage
1 Car
Property Type:
Multi Family
Status
Sold
MLS#
22161315
City
Long Beach
County
Los Angeles
Time on Site
763 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,850
  • Total Rent: $1,850
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,300
  • Total Rent: $1,525
  • Pro Forma/Market Rent: $1,300
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,150
  • Total Rent: $1,525
  • Pro Forma/Market Rent: $1,150
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,850
  • Pro Forma/Market Rent: $1,700
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 14.16
  • Gross Scheduled Income: --
  • Net Operating Income: $49,395
  • Gross Operating Income: $71,586
  • Garage Rental Rate: $150
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 6551 Cherry Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Microwave, Refrigerator
Exterior Features
Exterior Information
  • Other Structures: Shed(s)
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 1
  • # of Parking Spaces: 5
  • Has Parking
  • Parking Features: Garage - Single Door, Shared Driveway
Property Information
  • Total # of Units: 4
  • Parcel Number: 7114006035
Location / Neighborhood
Location Information
  • Directions: Take 91 Freeway and exit on Cherry Ave. Head South and cross E Artesia Blvd. 6551 Cherry Ave is just a few parcels past E Artesia Blvd.
View more facts & features

Local Long Beach Agent

Sale History for 6551 Cherry Ave

Last sold for $1,061,200 on July 21st, 2022

  • July, 2022

  • Jul 21, 2022

    Date

    Sold

    CRMLS: 22161315

    $1,061,200

    Price

  • May 31, 2022

    Date

    Active

    CRMLS: 22161315

    $1,045,000

    Price

Tax History for 6551 Cherry Ave

Assessed Value (2020): $219,126
Year Land Value Improved Value Assessed Value
2020 $74,270 $144,856 $219,126

Home Value Compared to the Market

This property vs the competition

6551 Cherry Ave sold on July 21, 2022 for 24.7% higher than the current median sold price for the city of Long Beach which is $838,000. The median sold price per/sqft for Long Beach is $664 and this home is sold at $326.97 per/sqft which puts the price per square foot 50.76% lower than the current median sale per square foot for the city of Long Beach.

About 6551 Cherry Ave

Detailed summary of property

6551 Cherry Ave is a multi family that recently sold in Long Beach, CA 90805. This multi family property offered 6 bedrooms, 4 bathrooms, roughly 3,196 living square feet, and sits on an approximately 5,525 square foot lot. 6551 Cherry Ave was first listed on ArdentRealEstateGroup.com on May 31, 2022. The homeowner sold the property for $1,061,200. Home in Long Beach are selling for a median price of $838,000 and a median price per square foot of $664. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 24.7% higher than the current median priced home. Local homes that are currently for sale include 351 E 115Th St, 1158 E 88th Pl and 205 W 119th St. While the average home in Long Beach, CA is selling in 54 days, 6551 Cherry Ave has a days on market of 21 days. There are currently 699 homes for sale in the Long Beach real estate market and 387 of them are single family homes while 291 of them are condos and 21 are townhomes. For more information on this home for sale at 6551 Cherry Ave Long Beach, CA 90805 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 6551 Cherry Ave

Public county record property details
Beds
6
Baths
6
Year built
1949
Sq. Ft.
3,196
Lot Size
5,524
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
10
APN
7114-006-035

The source for these homes facts are from public records.

90805 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$675,000
Median List Price/Sq.Ft.
$537
Median Sold Price
$725,000
Median Sold Price/Sq.Ft.
$566
Total Inventory
72
Median Sale to List Price %
100%
Avg Days on Market
16
Loan Type
Conventional (57.14%), FHA (23.81%), VA (0%), Cash (9.52%), Other (9.52%)

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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