NOT LISTED FOR SALE

318 Cherry Ave Long Beach, CA 90802

North Alamitos Beach Neighborhood
20 Beds
20 Baths
9,740 Sq Ft
9,208 Sq Ft Lot

Last Sold October 30, 2013

Last sale price $2,260,000 $232 Per Sq Ft

14 Days on Market

Highlights

  • Marina
  • Ocean Side of Highway 1
  • Cape Cod Architecture
  • Woodrow Wilson High School Rated A
  • 0.21 Acre Lot
  • Property is near a park

About This Home

As of October 2013

This fabulous 2 story walk-up building over gated parking is located only 3 blocks to the water in an excellent area of Bellmont Heights. The building is walking distance to Bixby Park and is surrounded by high quality apartment buildings and condminiums. It was built in 1987 and the units offer wonderful tried and true floorplans. Rents have quite a bit of room to move. The last rent of $1,225 demonstrates the upside potential of this property as an apartment building. The building has an approved tract map for condo conversion from 2008 (buyer to verify condition of filing), so it has additional upside from that perspective. The individual units feel much more spacious than the actual square footage would indicate. The units on the upper floor have vaulted ceilings for an even more spacious feel. It is tough to find good buildings in quality locations like this one, and it is priced to move. Please email listing agent for a set-up.

Last Agent to Sell the Property

Robert Freedman

DOMO Real Estate License #00711607 Listed on: 08/14/2013

Co-Listed By

Anthony Barberi

Vista Sotheby’s International Realty License #01351812

Last Buyer's Agent

Robert Freedman

DOMO Real Estate License #00711607 Listed on: 08/14/2013

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 9,208 Sq Ft Lot
  • Lot Dimensions are 92 x 100
  • Two or More Common Walls
  • West Facing Home
  • Fence is in good condition
  • Paved or Partially Paved Lot
  • Level Lot

Home Design

  • Cape Cod Architecture
  • Property Attached
  • Composition Roof
  • Wood Siding
  • Copper Plumbing
  • Stucco

Interior Spaces

  • 9,740 Sq Ft Home
  • 3-Story Property
  • Built-In Features
  • Sliding Doors
  • Carpet
  • Laundry Room

Kitchen

  • Gas Cooktop
  • Dishwasher
  • Ceramic Countertops

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 20 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 18 Parking Spaces
  • 18 Carport Spaces
  • Parking Available
  • Assigned Parking

Outdoor Features

  • Ocean Side of Highway 1
  • Exterior Lighting
  • Rain Gutters

Location

  • Property is near a park

Utilities

  • Wall Furnace
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 2,3
  • Tax Tract Number 3350
  • Assessor Parcel Number 7263006142

Community Details

Overview

  • No Home Owners Association
  • 12 Units

Recreation

  • Marina

Building Details

  • 13 Separate Electric Meters
  • 13 Separate Gas Meters
  • Electric Expense $1,962
  • Gardener Expense $2,015
  • Insurance Expense $3,586
  • Maintenance Expense $7,911
  • Other Expense $2,000
  • Professional Management Expense $7,911
  • Trash Expense $980
  • Water Sewer Expense $9,043
  • New Taxes Expense $25,203
  • Gross Income $13,185
  • Net Operating Income $110,092

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 5.37
  • Improvements Percent: 43.00
  • Professional Management Expense: 7911.00
  • Property Attached: Yes
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Belmont Heights (BH)
  • View: No
  • Water Sewer Expenses: 9043.00
  • Architectural Style: Cape Cod
  • Property Type: Residential Income
  • Gardener Expense: 2015.00
  • Parcel Number: 7263006142
  • Year Built: 1987
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Built-in Features, Ceramic Counters, Copper Plumbing Full, Tile Counters
  • Stories: 3
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet
  • Appliances: Yes
  • Door Features: Sliding Doors
  • Levels: Three Or More
  • Price Per Square Foot: 232.03

Exterior Features

  • Direction Faces: West
  • Exterior Features: Rain Gutters
  • Fencing: Good Condition
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Carport Spaces: 18.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 18.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Cooktop, Gas Water Heater
  • Heating Type: Wall Furnace
  • Laundry Features: Individual Room
  • Trash Expense: 980.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Gutters, Sidewalks, Street Lights

Lot Info

  • Land Value Percent: 57.00
  • Lot Features: Level, Paved, Park Nearby
  • Lot Size: 92 X 100
  • Lot Size Sq Ft: 9208.00
  • Lot Size Acres: 0.2110

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 812
  • Electric Expense: 1962.00
  • Gross Income: 13185.00
  • Gross Multiplier: 11.54
  • Gross Scheduled Income: 177600.00
  • Insurance Expense: 3586.00
  • Lot Size Area: 9208.0000 Square Feet
  • Maintenance Expense: 7911.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 110092.00
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Gas Meters: 13
  • Number Of Units Total: 12
  • Number With Carpet: 12
  • Number With Dishwasher: 12
  • Number With Disposal: 12
  • Number With Range: 12
  • Operating Expense: 63956.00
  • Operating Expense Percent: 36.00
  • Other Expense: 2000.00
  • Other Expense Description: misc
  • Rent Control: No
  • Total Actual Rent: 13085.00
  • Vacancy Allowance Rate: 2.00
  • Waterfront Features: Marina in Community, Ocean Side Of Highway 1

Tax Info

  • New Taxes Expense: 25203.00
  • Tax Lot: 2,3
  • Tax Tract Number: 3350
  • Tax Year: 2012

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
10/30/2013 10/30/13 Sold $2,260,000 +10.3% $232 / Sq Ft
08/28/2013 08/28/13 Pending -- -- --
08/14/2013 08/14/13 For Sale $2,049,000 -- $210 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Robert Freedman

    Seller's Agent in 2013

    Robert Freedman

    DOMO Real Estate

    (310) 995-2412

    70 Total Sales

    Robert Freedman
    Section Image
  • Anthony Barberi

    Seller Co-Listing Agent in 2013

    Anthony Barberi

    Vista Sotheby’s International Realty

    (310) 529-2344

    47 Total Sales

    Anthony Barberi
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB13163852

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 North Alamitos Beach

318 Cherry Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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

Nearby Homes