$2,350,000
1036 Cherry Avenue, Long Beach CA 90813
Multi-Family (8 Units)
Property type
9 days
On market
$498
Price per sqft
N/A
Garage
1921
Year built
5,844 sqft
Lot size
Open Houses
Overview
Huge ~250k Price Reduction! 8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 7.2% from day 1! Excellent unit mix of 1 (3bed/1bath) unit and 7 (1bed/1bath) units including 2 brand-new attached ADUs. Several units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity,...
Listing provided by: Julio Ruiz DRE #01911261 818-524-0706, Global Platinum Properties, Inc., Armin Soleimani DRE #01846872 310-666-2246, Global Platinum Properties, Inc.
Listing updated: Jun 5, 2026 at 08:58pm.
Last checked: Jun 5, 2026 at 09:30pm
Source: CRMLS #26839619
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 1 | 1 | 1 | — | $2,495 | $2,481 | $2,495 | Unfurnished |
| 1 | 1 | 1 | — | $2,495 | $2,380 | $2,495 | Unfurnished |
| 1 | 1 | 1 | — | $2,495 | $2,603 | $2,495 | Unfurnished |
| 1 | 1 | 1 | — | $2,495 | $2,200 | $2,495 | Unfurnished |
| 1 | 1 | 1 | — | $2,495 | $2,181 | $2,495 | Unfurnished |
| 1 | 1 | 1 | — | $3,495 | $3,134 | $3,495 | Unfurnished |
| 1 | 1 | 1 | — | $2,150 | $1,890 | $2,150 | Unfurnished |
| 1 | 1 | 1 | — | $2,150 | $2,150 | $2,150 | Unfurnished |
# of Buildings: 1
# of Units Total: 8
Financial Snapshot
Gross Rent Multiplier
10.3x
List Price / Annual Gross Rent
Cap Rate
7.2%
NOI / List Price
Net Operating Income: $169,170
Interior
Heating: Wall Furnace
Exterior
Architectural Style: Traditional
Stories Total: 2
Levels: Two
Property Condition: Updated Remodeled
Garage and Parking
Parking: None
Parking Total: 0
Lot Information
Land Lease: No
Parcel #: 7262008019
Zoning: LBR2N
Community
HOA: No
Senior Community: No
Nearby Schools
Nearby schools around the 1036 Cherry Avenue, Long Beach, CA 90813. Contact the school or district directly to verify enrollment eligibility.
Payment Calculator
Total Principal
$1,880,000
Total Interest
$2,397,836
Total Payment
$4,277,836
Payoff Date
Jun 2056
PMI is disabled automatically when your down payment is 20% or more.
Est. Payment
$14,481
per month
Property History for 1036 Cherry Avenue
Long Beach Market Snapshot
Market stats compare this property with recent MLS activity for similar property types in 90813.
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