$2,360,000

1036 Cherry Ave Long Beach, CA 90813

Hellman Neighborhood

Estimated payment $12,831/month

Total Views 10,741
10 Beds
8 Baths
4,722 Sq Ft
$500 Price per Sq Ft

Highlights

  • Traditional Architecture
  • Woodrow Wilson High School Rated A
  • Ceiling Fan

About This Home

Huge ~250k Price Reduction! 8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6.75% from day 1! Excellent unit mix of 1 (3bed/1bath) unit and 7 (1bed/1bath) units including 2 brand-new attached ADUs. Several units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash, further minimizing the operating expenses. Non-LA-City rent controlled asset allowing significant 8% annual rent increases (5%+CPI) for future upside. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Listing Agent

Armin Soleimani

Global Platinum Properties, Inc. License #01846872 Listed on: 04/23/2026

Co-Listing Agent

Julio Ruiz

Global Platinum Properties, Inc. License #01911261

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1921 | Remodeled

Home Design

  • Traditional Architecture

Interior Spaces

  • 4,722 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 8 Bathrooms

Additional Features

  • 5,844 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 7262-008-019

Property Details

Home Type

Multi-Family

Year Built

Built in 1921 | Remodeled

Lot Details

5,844 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Style: Traditional
  • Levels: Two
  • Street Number Display: Yes
  • Advertising Remarks: Huge ~250k Price Reduction! 8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 6.75% from day 1! Excellent unit mix of 1 (3bed/1bath) unit and 7 (1bed/1bath) units including 2 brand-new attached ADUs. Several units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash, further minimizing the operating expenses. Non-LA-City rent controlled asset allowing significant 8% annual rent increases (5%+CPI) for future upside. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach) & more!
  • Living Area: 4722
  • Lot Acreage: 0.1342
  • Property Condition: Updated/Remodeled
  • Stories: 2
  • Year Built: 1921
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 10
  • Total Bathrooms: 8.00
  • Price Per S Q F T: 499.79

Exterior Features

  • Other Structures: None

Utilities

  • Cooling: Ceiling Fan
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 54.59
  • Assessed Improvement Value: 750000
  • Assessed Land Percent: 45.41
  • Assessed Land Value: 624000
  • Total Assessed Value: 1374000
  • Assessor Parcel Number: 7262-008-019
  • Lot Size Area: 5844

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
  • Gross Rent Multiplier: 10.83
  • Number Of Units: 8
  • Type Of Units: Low Rise

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,833 $1,374,000 $624,000 $750,000
2024 $3,833 $211,700 $48,844 $162,856
2023 $3,757 $207,550 $47,887 $159,663
2022 $3,557 $203,482 $46,949 $156,533
2021 $3,451 $199,493 $46,029 $153,464
2019 $3,402 $194,698 $44,665 $150,033
2018 $3,230 $190,904 $43,790 $147,114
2016 $2,966 $182,417 $42,091 $140,326
2015 $2,867 $179,678 $41,459 $138,219
2014 $2,883 $176,159 $40,647 $135,512
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/23/2026 04/23/26 For Sale $2,360,000 -- $500 / Sq Ft
Source: The MLS

Purchase History

Date Type Sale Price Title Company
Grant Deed $1,100,000 Vylla Title
Grant Deed $1,100,000 Vylla Title
Grant Deed $130,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $760,000 Construction
Previous Owner $88,800 Seller Take Back
Source: Public Records

Source: The MLS

MLS Number: 26792189

The MLS

APN: 7262-008-019

California Los Angeles County Long Beach 90804 Hellman

1036 Cherry Ave, Long Beach, CA

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The MLS © 2026 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Information is deemed reliable but not guaranteed.

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Armin Soleimani
Listing Agent
Armin Soleimani
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Global Platinum Properties, Inc.
(562) 837-2797
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