480 Cherry Avenue
Long Beach, CA 90802
- – beds
- – baths
- – sqft
- 6,276 sqft lot
- 1930 build
- – on site
We are pleased to exclusively offer for sale this 3 Unit multi-family investment located in the vibrant 90802 submarket of Long Beach. This large 3,642 SF triplex is steps away from 4th Street and strategically positioned near Retro Row. This is the first time the property has been on the market in 20 years and the unit interiors have been meticulously maintained representing a true pride of ownership asset. In addition to the building’s excellent location, one of the features is (2) generously sized 2 bedroom/1 bath units and (1) large 1 bedroom/1 bath unit. Further, the 1 bedroom back unit contains a spacious patio and gazebo – idyllic for all residents. Along these lines, the property presents itself as an excellent owner user opportunity for buyer(s) looking to live in one unit while utilizing the income from the other (2) to offset their annual debt service. Each unit is separately metered for gas and electricity, lowering overhead costs for the owner. As it stands, the offering presents strong day 1 income with a current CAP Rate of 4.45% and future upside given the areas excellent rental demand. In addition, the tenants have access to a garage and elongated driveway which equates to at least (6) total parking spaces on site, which is especially significant in this parking impacted submarket. On top of this, the large back yard is ideally suited to build ADUs for investors looking to increase their annual cash flow. All in all, the building’s proximity to Retro Row and the vast dining, shopping, and entertainment options therein provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.
Last checked:
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Last updated Mar 27, 2025
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MLS# SB25063034 —
This property is listed in more than one place. See it here.
The Building
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Year Built:1930
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Year Built Source:Public Records
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New Construction:No
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Building Area Total:3642.00
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Building Area Units:Square Feet
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Total Number Of Units:3
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# of Buildings:2
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Stories Total:2
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Entry Level:1
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Common Walls:1 Common Wall
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# of Separate Gas Meters:3
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# of Separate Water Meters:1
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# of Separate Electric Meters:3
Interior
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Entry Location:Ground
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Fireplace:Yes
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Fireplace:Living Room
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Laundry:Common Area
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Laundry:1
Location
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Directions:On the corner of 4th St, and Cherry Ave
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Latitude:33.77314700
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Longitude:-118.16733700
The Property
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Property Type:Residential Income
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Subtype:Triplex
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Zoning:LBR1N
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Lot Features:Back Yard, Front Yard, Garden, Landscaped, Lawn, Rectangular Lot, Near Public Transit, Park Nearby, Yard
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Lot Size Area:6276.0000
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Lot Size Acres:0.1441
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Lot Size SqFt:6276.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:5768.01
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Tax Tract:576...
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Tax Lot:5
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7263003005
Utilities
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Utilities:Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
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Sewer:Sewer Paid
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Water Source:Private
The Community
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Subdivision:Alamitos Heights (AH)
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Subdivision:Alamitos Heights (AH)
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Features:Biking, Curbs, Dog Park, Golf, Gutters, Park, Sidewalks, Street Lights, Urban
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
Parking
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Parking:Yes
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Parking:Direct Garage Access, Driveway, Concrete, Paved, Driveway Level, Garage
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Parking Spaces:6.00
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Garage Spaces:1.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/26/25
Mar 26, 2025
|
Listed / Active | CRMLS_CA | $1,250,000 |
