NOT LISTED FOR SALE

787 Cherry Ave Long Beach, CA 90813

Hellman Neighborhood
4 Beds
2 Baths
5,894 Sq Ft
6,222 Sq Ft Lot

Last Sold November 18, 2020

Last sale price $2,170,000 $368 Per Sq Ft

13 Days on Market

About This Home

As of November 2020

We are pleased to present an 8-unit apartment building located in Long Beach, California. Built in 1985, the subject property consists of 6,222 rentable square feet spread throughout a 5,894 square foot lot. The unit mix consists of all 2-bedroom / 1-bathroom units. It is separately metered for gas and electricity.
Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 09/08/2020

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1985

Lot Details

  • 6,222 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 5,894 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 11
  • Tax Tract Number 4327
  • Assessor Parcel Number 7267031012

Community Details

Overview

  • 8 Units
  • Eastside Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Electric Expense $1,200
  • Fuel Expense $1,200
  • Gardener Expense $600
  • Insurance Expense $3,500
  • Maintenance Expense $7,391
  • Other Expense $1,600
  • Professional Management Expense $8,212
  • Trash Expense $1,200
  • Water Sewer Expense $1,200
  • New Taxes Expense $28,688
  • Operating Expense $55,691
  • Gross Income $168,000
  • Net Operating Income $107,869

Property Details

Home Type

Multi-Family

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Professional Management Expense: 8212.00
  • Property Attached: Yes
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 1200.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7267031012
  • Year Built: 1985
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Three Or More
  • Price Per Square Foot: 368.17

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer, Septic Type Unknown, Unknown
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6222.00
  • Lot Size Acres: 0.1428

Multi Family

  • Electric Expense: 1200.00
  • Fuel Expense: 1200.00
  • Gross Income: 168000.00
  • Gross Scheduled Income: 162960.00
  • Insurance Expense: 3500.00
  • Laundry Income: 600.00
  • Lot Size Area: 6222.0000 Square Feet
  • Maintenance Expense: 7391.00
  • Net Operating Income: 107869.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Total: 8
  • Operating Expense: 55691.00
  • Other Expense: 1600.00
  • Other Expense Description: Misc/Ad.
  • Rent Control: No
  • Total Expenses: 55691.00

Tax Info

  • New Taxes Expense: 28688.00
  • Tax Census Tract: 5764.03
  • Tax Lot: 11
  • Tax Tract Number: 4327

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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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
11/18/2020 11/18/20 Sold $2,170,000 -5.4% $368 / Sq Ft
09/21/2020 09/21/20 Pending -- -- --
09/08/2020 09/08/20 For Sale $2,295,000 -- $389 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kevin King

    Seller's Agent in 2020

    Kevin King

    Marcus & Millichap

    (562) 257-1245

    2 in this area

    41 Total Sales

    Kevin King
    Section Image

  • N

    Buyer's Agent in 2020

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    3 in this area

    6,202 Total Sales

    NoEmail NoEmail
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20186491

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

787 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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