5503 5511 Cherry Ave Long Beach, CA 90805
Houghton Park NeighborhoodEstimated payment $20,066/month
Highlights
- 0.28 Acre Lot
- Laundry Facilities
- Level Lot
- No HOA
About This Home
5503 - 5511 Cherry Avenue is a 17-unit multifamily investment opportunity in Long Beach, California. Constructed in 1960, the two-story, gardenstyle property features approximately 9,250 net rentable square feet on a 0.28-acre parcel. The community is arranged around a spacious central courtyard, with exterior walk-up access to the second-floor units. The property features a unit mix of 1 studio, 15 one-bed/one-bath units, and 1 two-bed/one-bath unit. Community amenities include gated access, security doors, on-site laundry, ceiling fans, a central courtyard, 12 surface parking spaces, and 1 garage space. Ownership completed approximately $85,000 in capital improvements in 2025, including a $52,000 electrical system upgrade with panel replacements and the $33,000 removal of the former swimming pool and installation of a concrete surface. These improvements strengthened the property’s electrical infrastructure while eliminating the maintenance and operating requirements associated with the former pool. 5503 - 5511 Cherry Avenue offers investors the opportunity to acquire a well-maintained multifamily asset with a predominantly one-bedroom unit mix and recently completed capital improvements.
Listing Agent
Marcus & Millichap RE Invest Brokerage Email: tleeson@marcusmillichap.com License #01451551 Listed on: 08/12/2026
Property Details
Home Type
- Apartment
Year Built
- Built in 1960
Lot Details
- 12,197 Sq Ft Lot
- No Common Walls
- Level Lot
Parking
- 12 Open Parking Spaces
- 1 Car Garage
Home Design
- Entry on the 1st floor
Interior Spaces
- 9,250 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 17 Bedrooms
- 17 Full Bathrooms
Outdoor Features
- Exterior Lighting
- Rain Gutters
Listing and Financial Details
- Tax Lot 5
- Tax Tract Number 4963
- Assessor Parcel Number 7128031002
- $3,249 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 17 Units
Amenities
- Laundry Facilities
Building Details
- 17 Separate Electric Meters
- 17 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $3,150
- Fuel Expense $3,150
- Insurance Expense $17,000
- Maintenance Expense $17,000
- Professional Management Expense $14,165
- Trash Expense $3,150
- Water Sewer Expense $3,150
- New Taxes Expense $38,073
- Operating Expense $128,191
- Gross Income $291,990
- Net Operating Income $155,114
Map
Home Values in the Area
Average Home Value in this Area
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/12/2026 08/12/26 | For Sale | $3,000,000 | -- | $324 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC26176306
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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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