$4,450,000
PENDING $250K PRICE DROP

915 Cherry Ave Long Beach, CA 90813

Hellman Neighborhood

Estimated payment $28,160/month

Total Views 1,838
3 Beds
2 Baths
15,328 Sq Ft
$290 Price per Sq Ft

Highlights

  • 0.45 Acre Lot
  • No HOA
  • Level Lot
  • Long Beach Polytechnic High School Rated A
  • Laundry Room

About This Home

905 & 915 Cherry Avenue is a 2-property, 26-unit multifamily portfolio located in Long Beach, California. Built in 1922, 905 & 915 Cherry Avenue offers investors an opportunity to acquire a sizable footprint in one of Los Angeles County’s most desirable rental markets. 905 & 915 Cherry Avenue features an attractive mix of one and two-bedroom floor plans with desirable property amenities including surface and garage parking, and on-site laundry facilities. The portfolio is within walking distance of a variety of lifestyle amenities including Rose Park, the shops and restaurants of Retro Row, and Alamitos Beach. Additionally, the portfolio is just a short commute to employers in Downtown Long Beach and adjacent employment hubs such as the South Bay and Orange County via the 710 and 405 freeways. In summary, 905 & 915 Cherry Avenue’s fantastic location offers residents access to a variety of employment, transportation, and retail amenities, all of which will attract a diverse renter pool. With rental upside and strong rental metrics, 905 & 915 Cherry Avenue represents an attractive opportunity for a new owner seeking well located units.

Listing Agent

Tyler Leeson

Marcus & Millichap RE Invest Brokerage Email: tleeson@marcusmillichap.com License #01451551 Listed on: 06/16/2025

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1922

Lot Details

  • 0.45 Acre Lot
  • No Common Walls
  • Level Lot
  • 7267015018

Parking

  • 15 Car Garage

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 15,328 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Outdoor Features

  • Rain Gutters

Listing and Financial Details

  • Tax Lot 17
  • Tax Tract Number 1852
  • Assessor Parcel Number 7267015017
  • $4,843 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 26 Units

Amenities

  • Laundry Facilities

Building Details

  • 26 Separate Electric Meters
  • 26 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $6,020
  • Fuel Expense $6,020
  • Insurance Expense $26,000
  • Maintenance Expense $23,400
  • Professional Management Expense $20,279
  • Trash Expense $6,020
  • Water Sewer Expense $6,022
  • New Taxes Expense $55,189
  • Operating Expense $194,353
  • Gross Income $522,497
  • Net Operating Income $312,610

Property Details

Home Type

Apartment

Year Built

Built in 1922

Lot Details

0

Parking

15

Listing Details

  • CapRate: 7.02
  • Price Per Unit: 171154
  • Professional Management Expense: 20279.00
  • Property Attached: No
  • Water Sewer Expenses: 6022.00
  • Zoning: LBR2N
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7267015017
  • Year Built: 1922
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: First level
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 290.32

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 15.00
  • Total Parking Spaces: 15.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 6020.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 7267015018
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 19602.00
  • Lot Size Acres: 0.4500

Multi Family

  • Electric Expense: 6020.00
  • Fuel Expense: 6020.00
  • Gross Income: 522497.00
  • Gross Multiplier: 8.52
  • Gross Operating Income: 502266.00
  • Gross Scheduled Income: 517800.00
  • Insurance Expense: 26000.00
  • Lot Size Area: 0.4500 Acres
  • Maintenance Expense: 23400.00
  • Net Operating Income: 312610.00
  • Number Of Separate Electric Meters: 26
  • Number Of Separate Gas Meters: 26
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 26
  • Operating Expense: 194353.00
  • Operating Expense Percent: 38.30
  • Other Income1: 4697.00
  • Other Income Description: Misc
  • Rent Control: No
  • Total Expenses: 194353.00
  • Vacancy Allowance: 15534
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 55189.00
  • Tax Census Tract: 5764.03
  • Tax Lot: 17
  • Tax Tract Number: 1852
  • TaxOtherAnnualAssessmentAmount: 4843.00

Map

Range of Values:

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 Change Sq Ft Price
07/16/2025 07/16/25 Pending -- -- --
07/01/2025 07/01/25 Price Changed $4,450,000 -5.3% $290 / Sq Ft
06/16/2025 06/16/25 For Sale $4,700,000 -- $307 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC25134383

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

915 Cherry Ave, Long Beach, CA

This home is located at 915 Cherry Ave, Long Beach, CA 90813 and is currently priced at $4,450,000, approximately $290 per square foot. This property was built in 1922. 915 Cherry Ave is a home located in Los Angeles County with nearby schools including Burbank Elementary School, Franklin Middle School, and Long Beach Polytechnic 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

Nearby Homes
Tyler Leeson
Listing Agent
Tyler Leeson
Section Image
Marcus & Millichap RE Invest
(562) 250-5477