Homes for sale - 315 Cherry AVE, Long Beach, CA 90802

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Candice Blair

candice@candiceblairgroup.com +1(949) 466-0620

$ 3,195,000

Est. payment -/mo

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Active

315 Cherry AVE Long Beach, CA 90802

6,392 SqFt

UPDATED:

10/23/2024 05:39 PM

Key Details

Property Type Commercial

Sub Type Commercial/Residential

Listing Status Active

Purchase Type For Sale

Square Footage 6,392 sqft

Price per Sqft $499

Subdivision Alamitos Beach (Ab)

MLS Listing ID SB24022524

Style Spanish

Construction Status Turnkey

HOA Y/N No

Year Built 1923

Lot Size 6,756 Sqft

Acres 0.1551

Property Description

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!

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR1N

Rooms

Other Rooms Den, Entry, Family Room, Kitchen, Laundry, Living Room

Interior

Interior Features 2 Staircases, Built-in Features, Ceiling Fan(s), Open Floorplan, Quartz Counters, Recessed Lighting

Heating Ductless

Cooling None

Flooring Laminate, Vinyl, Wood

Fireplaces Type None

Appliance None

Laundry Gas & Electric Dryer Hookup, In Closet, Individual Room, Inside

Exterior

Exterior Feature Lighting

Parking Features Garage, Public

Garage Spaces 4.0

Fence Good Condition, Security

Pool None

Community Features Biking, Curbs, Dog Park, Park, Sidewalks, Street Lights

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Waterfront Description Ocean Side Of Highway 1

View None

Roof Type Flat

Private Pool No

Building

Lot Description 0-1 Unit/Acre, Back Yard, Front Yard, Landscaped, Level with Street, Near Public Transit, Park Nearby, Paved

Story 2

Foundation Raised

Sewer Public Sewer

Water Public

Architectural Style Spanish

Level or Stories Two

Additional Building Second Garage Attached

New Construction No

Construction Status Turnkey

Others

Senior Community No

Security Features Gated Community,Smoke Detector(s)

Special Listing Condition Standard

Confidential INFO

TERMS 1031 Exchange,Cash,Cash To New Loan

LIST AGRMT Exclusive Right To Sell

LIST SERVICE Full Service

PRIVATE REMARKS No trespassing and please do not disturb the tenants. Call Matt Mahowald for more information. Thank you for your time and consideration.

SHOW CONTACT TYPE None

SHOW CONTACT NAME Matt Mahowald

SHOW CONTACT PH 3107565511

SHOW INSTRUCTIONS No showings at this time. No trespassing and please do not disturb the tenants. Call Matt Mahowald for more information.

Listed by Buckingham Investments, Inc

Candice Blair

Broker Associate | License ID: 01395953 ‌

+1(949) 466-0620

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