NOT LISTED FOR SALE

6029 Cherry Ave Long Beach, CA 90805

Nehyam Neighborhood
1 Bed
1 Bath
3,000 Sq Ft
4,678 Sq Ft Lot

Last Sold May 18, 2021

Last sale price $1,195,000 $398 Per Sq Ft

Highlights

  • Cooling System Mounted To A Wall/Window
  • Park
  • Forced Air Heating System

About This Home

As of May 2021

Property Highlights
EXCLUSIVE LISTING | MULTIFAMILY OPPORTUNITY
• Substantial Upside in Rents
• Located Near the New Long Beach Exchange Retail Center
• $35,000 Invested in Improvements Since 2018
• New Roof, Exterior Paint & New Landscaping
• Gated Entry
• 13% Cash-on-Cash on Market Rents

Last Agent to Sell the Property

Peter Gillin

Morgan Skenderian License #01433769 Listed on: 02/08/2021

Last Buyer's Agent

Cody Charnell

Sage Real Estate Group, Inc. License #01950585

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,459

Year Built

  • Built in 1959

Lot Details

  • 4,678 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • 3,000 Sq Ft Home
  • Apartment

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Parking

  • On-Street Parking
  • Assigned Parking

Outdoor Features

  • Rain Gutters

Utilities

  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating System
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity
  • Tax Lot 16
  • Tax Tract Number 8973
  • Assessor Parcel Number 7123005016

Community Details

Overview

  • 6 Units
  • North Long Beach Subdivision

Recreation

  • Park

Building Details

  • 6 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $843
  • Insurance Expense $900
  • Maintenance Expense $6,691
  • Other Expense $694
  • Supplies Expense $1,500
  • Trash Expense $843
  • Water Sewer Expense $843
  • New Taxes Expense $14,459
  • Operating Expense $26,773
  • Gross Income $92,713
  • Net Operating Income $65,939

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,459

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.50
  • Other Phone Ext: 109
  • Other Phone Number: 949 251 8800
  • Property Attached: Yes
  • Subdivision Name Other: North Long Beach (NLB)
  • Supplies Expense: 1500.00
  • Water Sewer Expenses: 843.00
  • Zoning: LBCCA
  • Property Type: Residential Income
  • Parcel Number: 7123005016
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 398.33

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking Features: Assigned, Street

Utilities

  • Utilities: Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: No
  • Heating Type: Forced Air
  • Sewer: Public Sewer
  • Trash Expense: 843.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Park, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 4678.00
  • Lot Size Acres: 0.1074

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Electric Expense: 843.00
  • Gross Multiplier: 12.50
  • Gross Operating Income: 92713.00
  • Gross Scheduled Income: 95580.00
  • Gross Spendable Income: 33734.00
  • Insurance Expense: 900.00
  • Lot Size Area: 4678.0000 Square Feet
  • Maintenance Expense: 6691.00
  • Maintenance Percent: 7.00
  • Net Operating Income: 65939.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 26773.00
  • Operating Expense Percent: 28.00
  • Other Expense: 694.00
  • Other Expense Description: Assess.
  • Rent Control: No
  • Total Actual Rent: 95580.00
  • Total Expenses: 26773.00
  • Vacancy Allowance: 2867
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 14459.00
  • Tax Census Tract: 5705.02
  • Taxes Percent: 1.20
  • Tax Lot: 16
  • Tax Rate: 1.20
  • Tax Tract Number: 8973
  • Tax Annual Amount: 14459.00
  • Tax Year: 2019

Range of Values:

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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 Change Sq Ft Price
05/18/2021 05/18/21 Sold $1,195,000 0.0% $398 / Sq Ft
02/08/2021 02/08/21 For Sale $1,195,000 -- $398 / Sq Ft
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

  • Cody Charnell

    Buyer's Agent in 2021

    Cody Charnell

    Sage Real Estate Group, Inc.

    (562) 896-3851

    1 in this area

    52 Total Sales

    Cody Charnell
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21026135

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90805 Nehyam

6029 Cherry Ave, Long Beach, CA

This home is located at 6029 Cherry Ave, Long Beach, CA 90805 since 08 February 2021. This property was built in 1959. 6029 Cherry Ave is a home located in Los Angeles County with nearby schools including Bret Harte Elementary School, Lindbergh STEM Academy, and Jordan High School.

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

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