Multifamily
New
For Sale
$1,373,000
1605 Cherry Avenue, Long Beach, CA 90813
The property dates to 1949 and is located in Los Angeles County.
Property Size3,546 SF
Days on Market5
Property Features for 1605 Cherry Avenue
General Information
Standard status
Active
Size
3,546 SF
Total Parking Spaces
2
Property subtype
Residential Income
Net Operating Income
$58,628
Amenities
Curbs, Street Lights, Sidewalks
Building Details
Building Size
3,546 SF
Year Built
1949
Buildings
1
Stories
1
Listed By:
Jason Kirklen
(949) 942-1302
Source:
Evrealestate
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 16 at 7:34AM
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 Jason Kirklen
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Investment Insights
Based on property information with market context.
Located at 1605 Cherry Avenue in Long Beach, this multifamily property was built in 1949. The address places it in Los Angeles County.
Key Highlights
- Built in 1949
- Address: 1605 Cherry Avenue, Long Beach, CA 90813
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,109
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,502,180
$1.5M
Cap Rate 7%
$1,072,986
$1.1M
Cap Rate 9%
$834,544
$834.5K
Market Conditions
NOI Build-Up for 3,546 SF
Gross rent
$142.5K $40.20/SF
− Vacancy
−$6.0K −$1.69/SF
EGI
$136.6K $38.51/SF
− OpEx
−$61.5K −$17.33/SF
NOI
$75.1K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,502,180
Cap Rate 7%
$1,072,986
Cap Rate 9%
$834,544
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$938.9K – $1.25M
NOI $75,109 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.16M
$1.02M – $1.36M
NOI $81,504 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,426
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property dates to 1949 and is located in Los Angeles County.
Where is this multifamily property located?
The property is located at 1605 Cherry Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $1,373,000.
What are key features of this property?
This property features: Built in 1949; Address: 1605 Cherry Avenue, Long Beach, CA 90813
