NOT LISTED FOR SALE

1170 Cherry Ave Long Beach, CA 90813

Cambodia Town Neighborhood
1 Bed
2 Baths
4,320 Sq Ft
6,531 Sq Ft Lot

Last Sold July 16, 2021

Last sale price $1,800,000 $417 Per Sq Ft

18 Days on Market

Highlights

  • Gated Community
  • Laundry Room
  • 1-Story Property
  • Woodrow Wilson High School Rated A

About This Home

As of July 2021

This home is located at 1170 Cherry Ave, Long Beach, CA 90813 since 19 March 2021. This property was built in 1923. 1170 Cherry Ave is a home located in Los Angeles County with nearby schools including Willard Elementary School, Woodrow Wilson High School, and Creative Arts School.

Last Agent to Sell the Property

Peter Gillin

Morgan Skenderian License #01433769 Listed on: 03/19/2021

Last Buyer's Agent

Jon Swire

The Agency License #01336277

The Agency

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 6,531 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • On-Street Parking

Home Design

  • Property Attached

Interior Spaces

  • 4,320 Sq Ft Home
  • 1-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Outdoor Features

  • Rain Gutters

Utilities

  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Legal Lot and Block 4 / C
  • Assessor Parcel Number 7261032006

Community Details

Building Details

  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 10 Separate Water Meters
  • Gardener Expense $840
  • Insurance Expense $3,576
  • Maintenance Expense $10,872
  • Other Expense $1,507
  • Supplies Expense $1,200
  • Water Sewer Expense $4,764
  • New Taxes Expense $22,384
  • Operating Expense $45,143
  • Gross Income $900
  • Net Operating Income $86,680

Additional Features

  • 10 Units
  • Laundry Facilities
  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 4.70
  • Property Attached: Yes
  • Security: Gated Community
  • Supplies Expense: 1200.00
  • Water Sewer Expenses: 4764.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Gardener Expense: 840.00
  • Parcel Number: 7261032006
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 416.67

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: No
  • Parking Features: Street

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Connected, Water Connected
  • Laundry: Yes
  • Electric: Standard
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 6531.00
  • Lot Size Acres: 0.1499

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Average1 Bed Area: 450 Square Feet
  • Average Studio Area: 400 Square Feet
  • Gross Income: 900.00
  • Gross Multiplier: 13.61
  • Gross Operating Income: 131823.00
  • Gross Scheduled Income: 135900.00
  • Gross Spendable Income: 45795.00
  • Insurance Expense: 3576.00
  • Laundry Income: 900.00
  • Lot Size Area: 6531.0000 Square Feet
  • Maintenance Expense: 10872.00
  • Maintenance Percent: 8.00
  • Net Operating Income: 86680.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 10
  • Number Of Units Total: 10
  • Operating Expense: 45143.00
  • Operating Expense Percent: 33.20
  • Other Expense: 1507.00
  • Other Expense Description: Spec. As
  • Rent Control: No
  • Total Expenses: 45143.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 22384.00
  • Tax Block: C
  • Tax Census Tract: 5769.01
  • Tax Lot: 4

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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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/16/2021 07/16/21 Sold $1,800,000 -2.7% $417 / Sq Ft
03/19/2021 03/19/21 For Sale $1,850,000 +2.8% $428 / Sq Ft
03/18/2021 03/18/21 Off Market $1,800,000 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2021

    Peter Gillin

    Morgan Skenderian

  • Jon Swire

    Buyer's Agent in 2021

    Jon Swire

    The Agency

    (310) 948-2631

    2 in this area

    34 Total Sales

    Jon Swire
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21054340

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90804 Cambodia Town

1170 Cherry Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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