Fully Vacant 4-Plex With
For Sale
$1,075,000
1364 Cherry Ave, Long Beach, CA 90813
A fully vacant four-unit property featuring in-unit laundry hookups and four single garages.
Property Size2,544 SF
Days on Market76
Property Features for 1364 Cherry Ave
General Information
Standard status
Active
Size
2,544 SF
Total Parking Spaces
4
Property subtype
Multifamily
Additional Details
Multifamily Units
4
Building Details
Building Size
2,544 SF
Year Built
1924
Year Renovated
2025
Listing Agency:
Young Lewin Advisors
Listed By:
Daniel Gomez · License #CalDRE #02081392
(562) 266-7629
Source:
Younglewin
Added: Jun 24
Changed: Sep 6
Last Checked: Sep 6 at 6:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Young Lewin Advisors
Investment Insights
Based on property information with market context.
This fully vacant four-plex offers a strong turnkey presentation, with recent exterior and interior improvements completed in 2025. Updates include a new roof, new windows and fresh paint, along with interior upgrades for the units.
The property also includes in-unit laundry hookups and four single garages, providing practical convenience for residents and day-to-day operations.
With all units vacant, the building is positioned for an investor or owner-operator looking to move forward without in-place tenant considerations.
The property also includes in-unit laundry hookups and four single garages, providing practical convenience for residents and day-to-day operations.
With all units vacant, the building is positioned for an investor or owner-operator looking to move forward without in-place tenant considerations.
Key Highlights
- Fully vacant 4‑plex with all 4 units available
- New roof in 2025
- New windows and paint in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,473
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,169,460
$1.2M
Cap Rate 7%
$835,329
$835.3K
Cap Rate 9%
$649,700
$649.7K
Market Conditions
NOI Build-Up for 2,544 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$87.0K $34.20/SF
− Vacancy
−$3.5K −$1.36/SF
EGI
$83.5K $32.84/SF
− OpEx
−$25.1K −$9.85/SF
NOI
$58.5K $22.98/SF
Area
ZIP 90813
Vacancy
3.99%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,169,460
Cap Rate 7%
$835,329
Cap Rate 9%
$649,700
Alternative Uses
Best Use
Multifamily LT 5
$835.3K
$730.9K – $974.6K
NOI $58,473 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$769.8K
$673.6K – $898.1K
NOI $53,885 @ 7.0% cap · market cap 5.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,768
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - A fully vacant four-unit property featuring in-unit laundry hookups and four single garages.
Where is this quadplex located?
The property is located at 1364 Cherry Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Fully vacant 4‑plex with all 4 units available; New roof in 2025; New windows and paint in 2025
