Description
Two-parcel offering of 26 units in Long Beach: 905 and 915 Cherry Avenue, mirrored 13-unit 1922 buildings sold together as one package. Each building sits on its own parcel below the 16-unit resident-manager threshold, so no manager's unit or payroll. Unit mix is (24) one-bedrooms and (2) two-bedrooms with (12) on-site garages and on-site laundry. 17 of 26 units have been renovated, including four full 2026 renovations with white shaker cabinetry, quartz counters and stainless appliances. Upgraded electrical throughout both buildings (Buyer to verify); sections of the copper water lines and sewer lines upgraded; SB 721 inspection complete. Listed at a 6.10% cap and 10.38 GRM on current total gross income, with roughly 13% upside as units turn to the $1,845 / $2,445 rents achieved on five 2026 leases. Assumable $3.1M loan at 5.97% interest-only. Seller has conceptual plans for (6) ADUs - (3) per building - converting the rear garage banks and taking the property to 32 units (Buyer to verify). Subject to AB 1482 only; no local rent control. Walking distance to Retro Row and Rose Park, minutes to Downtown and the Space Beach employment corridor.
Details
| MLS # | RS26238078 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1922 |
| Days On Site | 10 |
| Listing Provided By | eXp Realty of Greater L.A | Andrew McAllister |
Features
| SQ Feet | 15,328 |
|---|---|
| Garage | 12 |
| Story(s) | 2 |
| Units | 26 |
| Building(s) | 2 |
| Acreage | 0.45 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Fireplace Yes / No | No |
Exterior
| Roof | Flat |
|---|---|
| Construction Materials | Frame, Stucco |
| Lot Features | Thirty Six To Forty Units Acre, Front Yard, Lawn, Landscaped, Level, Rectangular Lot, Street Level |
Parking
| Parking Features | Assigned, Garage, On Site, Paved, Uncovered |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Curbs, Gutters, Street Lights, Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 3 Eastside | Circle Area |
| Community Name | Rose Park South |
| Listing VS Median (in Rose Park South) | |
Price: $5,850,000 low | high Med: $5,850,000 sqft: 15,328 low | high Med: 15,328 $ / sqft: $382 low | high Med: $382 On site: 10 low | high Med: 10 | |
Market Activity 90813
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 3 Eastside | Circle Area |
| Community Name | Rose Park South |
| Listing VS Median (in Rose Park South) | |
Price: $5,850,000 low | high Med: $5,850,000 sqft: 15,328 low | high Med: 15,328 $ / sqft: $382 low | high Med: $382 On site: 10 low | high Med: 10 | |
 | $4,500,0001050 GaviotaLong Beach, CA 90813 |