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Travis Breton

travisbreton@gmail.com +1(866) 344-7473

Listed by Andrew McAllister, DRE #01946829 • eXp Realty of Greater L.A

$ 5,850,000

Est. payment | -/mo

0.45 Acres Lot

Save

$ 5,850,000

Est. payment | -/mo

Save

0.45 Acres Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRRS26238078

Year Built 1922

Lot Size 0.447 Acres

Source California Regional MLS

Property Description

Two-parcel offering of 26 units in Long Beach: 905 and 915 Cherry Avenue, mirrored 13-unit 1922 buildings sold together as one package. Each building sits on its own parcel below the 16-unit resident-manager threshold, so no manager's unit or payroll. Unit mix is (24) one-bedrooms and (2) two-bedrooms with (12) on-site garages and on-site laundry. 17 of 26 units have been renovated, including four full 2026 renovations with white shaker cabinetry, quartz counters and stainless appliances. Upgraded electrical throughout both buildings (Buyer to verify); sections of the copper water lines and sewer lines upgraded; SB 721 inspection complete. Listed at a 6.10% cap and 10.38 GRM on current total gross income, with roughly 13% upside as units turn to the $1,845 / $2,445 rents achieved on five 2026 leases. Assumable $3.1M loan at 5.97% interest-only. Seller has conceptual plans for (6) ADUs - (3) per building - converting the rear garage banks and taking the property to 32 units (Buyer to verify). Subject to AB 1482 only; no local rent control. Walking distance to Retro Row and Rose Park, minutes to Downtown and the Space Beach employment corridor.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Interior

Heating Wall Furnace

Cooling None

Laundry Laundry Area, Washer/Dryer - Leased

Exterior

Parking Features Assigned Spaces, Garage, Common Parking Area, Other, Uncovered Parking

Garage Spaces 24.0

Pool None

Roof Type Flat / Low Pitch

Building

Lot Description Grade - Level

Water District - Public

Others

Tax ID 7267015018

Special Listing Condition Not Applicable

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(866) 344-7473

travisbreton@gmail.com

1902 Wright Place #200, Carlsbad, CA 92008, USA

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905 Cherry Long Beach, CA 90813