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Listed by Tyler Leeson • Marcus & Millichap RE Invest
$7,000,000
Est. payment /mo
21,667 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 21,667 sqft
Price per Sqft $323
MLS Listing ID CROC25112446
HOA Y/N No
Year Built 1922
Lot Size 0.750 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
The Cherry Ave Collection, (the “Collectionâ€, the “Portfolio†or the “Propertyâ€), is a 36-unit, 4-property multifamily portfolio located in Long Beach, California. Built between 1922 and 1923, the Collection offers investors an opportunity to acquire a sizable footprint in one of Los Angeles County’s most desirable rental markets. The Collection features an attractive mix of studio, one, and two-bedroom floor plans with desirable property amenities including surface and garage parking, on-site laundry (select units feature laundry hookups), and spacious common courtyards. The Collection is within walking distance of a variety of lifestyle amenities including Rose Park, the shops and restaurants of Retro Row, and Alamitos Beach. Additionally, the Collection is just a short commute to employers in Downtown Long Beach and adjacent employment hubs such as the South Bay and Orange County via the 710 and 405 freeways. In summary, the Cherry Ave Collection’s fantastic location offers residents access to a variety of employment, transportation, and retail amenities, all of which will attract a diverse renter pool. With rental upside and strong rental metrics, the Collection represents an attractive opportunity for a new owner seeking well located units.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Community Facility
Building
Lot Description Level
Water Public
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