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1081 Cherry Avenue, Long Beach, CA 90813

$1,050,000 Approx. USD 2 beds, 6 baths
2,773 sqft

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Berkshire Hathaway HomeServices California Properties 11828 Rancho Bernardo Rd, Ste 210
San Diego, CA 92128 888-995-7575

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Listing Agent

John 'Jack' McCann | jack@lyonstahl.com
Lic#: 01963932
Broker: Courtesy of Lyon Stahl Investment Real Estate, Inc.
Phone: 310-382-1063

Agent Remarks

1081 Cherry Avenue presents investors with a rare opportunity to acquire a fully occupied, cash-flowing six-unit asset in Long Beach at a compelling 6.42% current cap rate with immediate upside on the table. Offered at $1,100,000, $183,333 per unit and $397 per square foot, this 1923 built property delivers strong in place income of $110,208 annually against a lean 33% expense ratio, producing a current NOI of $70,569 with a clear path to $92,263 at pro forma rents. The property consists of one two-bedroom one-bath unit and five studios across 2,773 square feet of building on a 6,187 square foot lot. All six units are occupied with tenants paying gas and electric, and the building features an on-site laundry facility and garage parking for the two-bedroom unit. Studios are currently averaging $1,272 per month against a market rent of $1,600, representing an 18% rental upside that a new owner can capture through natural turnover with no heavy lifting required. At pro forma rents the GRM compresses to 8.45 and the cap rate expands to 8.39%, both favorable against comparable sales in the submarket which are averaging a 6.09% cap rate and 11.06 GRM. For the value-add investor seeking strong in-place cash flow with meaningful upside ahead, 1081 Cherry Avenue delivers day-one income, a below-market rent profile with room to grow, and the kind of returns that get stronger over time as rents are pushed to market through natural turnover.

Listing Details

Property type: (Multi-Family)

Status: Pending

MLS# 26676253

List price is $1,050,000 Reduced by $50,000 on 6/16/2026

Price: $1,050,000

Beds: 2

Baths: 6

Built in 1923

2,773 sqft

0.14 acres

Lot size: 0.1420

County: Los Angeles

Zoning: LBR2N

Parking description: Driveway,Shared Driveway,On Street

Heating/cooling: None

Heating description: Wall Furnace

MLS area: 4 - Downtown Area, Alamitos Beach

Last Updated: 8/10/2026

Days On Market (DOM): 122

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This listing belongs to the 4 - Downtown Area, Alamitos Beach MLS area

Lat/Long: 33.780486, -118.167972.
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