Apartment Building with On-Site
905 Cherry, Long Beach, CA 90813
For Sale
$5,850,000
Assigned garage parking and paved on-site parking serve the property.
Property Size15,328 SF
Days on Market9
Property Features for 905 Cherry
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Net Operating Income
Site & Location
Neighborhood
Amenities
Curbs, Street Lights, Sidewalks
Wall Furnace
Assigned, Garage, On Site, Paved
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
eXp Realty of Greater L.A
Listed By:
Andrew McAllister
(562) 528-8105
Source:
Evrealestate
Added: Nov 5
Changed: Nov 8
Last Checked: Nov 12 at 7:36AM
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 eXp Realty of Greater L.A
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This apartment building dates to 1922. Interior features include wall furnace heating, and the property offers assigned garage parking with a paved on-site area.
The building is on Cherry Avenue between East 9th and East 10th Streets, south of Anaheim Street, in Long Beach.
The building is on Cherry Avenue between East 9th and East 10th Streets, south of Anaheim Street, in Long Beach.
Key Highlights
- Built in 1922
- Assigned garage parking and paved on‑site parking
- On Cherry Avenue between East 9th and East 10th Streets, south of Anaheim Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$324,668
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,493,360
$6.5M
Cap Rate 7%
$4,638,114
$4.6M
Cap Rate 9%
$3,607,422
$3.6M
Market Conditions
NOI Build-Up for 15,328 SF
Gross rent
$616.2K $40.20/SF
− Vacancy
−$25.9K −$1.69/SF
EGI
$590.3K $38.51/SF
− OpEx
−$265.6K −$17.33/SF
NOI
$324.7K $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%
$6,493,360
Cap Rate 7%
$4,638,114
Cap Rate 9%
$3,607,422
Alternative Uses
Best Use
Apartment 5plus
$4.64M
$4.06M – $5.41M
NOI $324,668 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.03M
$4.40M – $5.87M
NOI $352,311 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,981
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
$543,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Long Beach, CA
Properties on Market for Apartment buildings in Long Beach
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Assigned garage parking and paved on-site parking serve the property.
Where is this apartment building located?
The property is located at 905 Cherry Long Beach, CA.
What is the asking price?
The asking price for this property is $5,850,000.
What are key features of this property?
This property features: Built in 1922; Assigned garage parking and paved on‑site parking; On Cherry Avenue between East 9th and East 10th Streets, south of Anaheim Street
