NOT LISTED FOR SALE

546 Cherry Ave Long Beach, CA 90802

North Alamitos Beach Neighborhood
3 Beds
3 Baths
7,360 Sq Ft
1963 Built

Last Sold April 06, 2017

Last sale price $3,300,000 $448 Per Sq Ft

21 Days on Market

Highlights

  • 8,126 Sq Ft lot
  • Fireplace in Kitchen
  • Level Lot
  • Woodrow Wilson High School Rated A
  • Laundry Room

About This Home

As of April 2017

546 Cherry Avenue is a twelve unit apartment community located in the Retro Row submarket of Downtown Long Beach and offers investors the opportunity to acquire a turn-key property in a strong, non-rent controlled market. The property was originally constructed in 1963 and features two (Studio), seven (1 Bedroom) and 3 (2 Bedroom) units, encompassing a gross area of 8,126 square feet. The building features controlled-access entry, on-site laundry and attached covered parking.

The Subject Property is located at 546 Cherry Avenue in the Retro Row neighborhood of Long Beach. The property is situated less than a mile from the ocean and just 3 blocks from the shops and restaurants of Retro Row along East 4th Street.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 02/01/2017

Keller Williams Realty Downey

Last Buyer's Agent

Steven Rime

Keller Williams South Bay License #01370578

Keller Williams South Bay

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 8,126 Sq Ft Lot
  • 1 Common Wall
  • Level Lot

Parking

  • 6 Car Garage
  • Parking Available
  • Front Facing Garage
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 7,360 Sq Ft Home
  • Living Room with Fireplace
  • Dining Room with Fireplace
  • Fireplace in Kitchen
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 5768
  • Assessor Parcel Number 7262025010

Community Details

Building Details

  • Electric Expense $8,325
  • Gardener Expense $1,345
  • Insurance Expense $3,200
  • Maintenance Expense $4,450
  • Other Expense $1,700
  • Pest Control $720
  • Professional Management Expense $11,033
  • Supplies Expense $4,500
  • New Taxes Expense $39,797
  • Operating Expense $75,819
  • Gross Income $220,650
  • Net Operating Income $144,831

Additional Features

  • 12 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

6

Listing Details

  • Professional Management Expense: 11033.00
  • Property Attached: Yes
  • Subdivision Name Other: Retro Row
  • Supplies Expense: 4500.00
  • Zoning: LBR1N
  • Property Type: Residential Income
  • Gardener Expense: 1345.00
  • Parcel Number: 7262025010
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 1 Common Wall
  • Fireplace Features: Dining Room, Kitchen, Living Room
  • Levels: Two
  • Price Per Square Foot: 448.37

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned, Covered, Garage Faces Front
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 720.00
  • Sewer: Other
  • Water Source: Other

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level
  • Lot Size Sq Ft: 8126.00

Multi Family

  • Electric Expense: 8325.00
  • Gross Income: 220650.00
  • Gross Scheduled Income: 2140802.00
  • Insurance Expense: 3200.00
  • Maintenance Expense: 4450.00
  • Net Operating Income: 144831.00
  • Number Of Units Total: 12
  • Operating Expense: 75819.00
  • Other Expense: 1700.00
  • Other Expense Description: Misc.
  • Rent Control: No
  • Total Expenses: 75819.00

Tax Info

  • New Taxes Expense: 39797.00
  • Tax Census Tract: 5768.01
  • Tax Lot: 4
  • Tax Tract Number: 5768

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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Average Value
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List Price
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
04/06/2017 04/06/17 Sold $3,300,000 0.0% $448 / Sq Ft
02/22/2017 02/22/17 Pending -- -- --
02/01/2017 02/01/17 For Sale $3,300,000 -- $448 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Robert Stepp

    Seller's Agent in 2017

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    16 in this area

    76 Total Sales

    Robert Stepp
    Section Image
  • Steven Rime

    Buyer's Agent in 2017

    Steven Rime

    Keller Williams South Bay

    (310) 779-3638

    8 Total Sales

    Steven Rime
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17021726

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

546 Cherry Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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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

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