NOT LISTED FOR SALE
3 Beds
2 Baths
15,328 Sq Ft
0.45 Acre Lot

Sale Details

Date Sold: October 15, 2025

Last sale price $4,300,000 $281 Per Sq Ft

30 Days on Market

Highlights

  • 0.45 Acre Lot
  • Laundry Facilities
  • Level Lot
  • No HOA

About This Home

As of October 2025

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.

Last Agent to Sell the Property

Tyler Leeson

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

Last Buyer's Agent

Andrew McAllister

eXp Realty of Greater L.A License #01946829

eXp Realty of Greater L.A
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Property Details

Home Type

  • Apartment

Year Built

  • Built in 1922

Lot Details

  • 19,602 Sq Ft 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

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

0.45 Acres

Parking

15

Listing Details

  • CapRate: 7.02
  • 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
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 280.53

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 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

Ownership 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 Name Owned For Owner Type

Purchase Details

Listed on
Jun 16, 2025
Closed on
Oct 7, 2025
Sold by
Bought by
Seller's Agent
Tyler Leeson
Marcus & Millichap RE Invest
Buyer's Agent
Andrew McAllister
eXp Realty of Greater L.A
List Price
$4,700,000
Sold Price
$4,300,000
Premium/Discount to List
-$400,000
-8.51%
Views
3

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,100,000
Outstanding Balance
$3,074,225
Interest Rate
6.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 12, 2010
Sold by
Bought by

Purchase Details

Closed on
Sep 24, 2001
Sold by
Bought by

Purchase Details

Closed on
Sep 19, 2001
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase 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 Buyer Sale Price Title Company
$4,300,000 Commonwealth Land Title Compan
$295,002 Advantage Title Inc
-- --
$1,700,000 --
-- Fidelity-Glendale
Source: Public Records

Mortgage 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 Status Borrower Loan Amount
Open $3,100,000
Closed $3,100,000
Previous Owner $3,000,000
Previous Owner $2,975,000
Previous Owner $2,515,000
Previous Owner $108,000
Source: Public Records

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
10/15/2025 10/15/25 Sold $4,300,000 -3.4% $281 / Sq Ft
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)

Tax 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.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $19,551 $1,332,417 $935,256 $397,161
2024 $18,671 $1,306,292 $916,918 $389,374
2023 $18,335 $1,280,680 $898,940 $381,740
2022 $17,249 $1,255,569 $881,314 $374,255
2021 $16,853 $1,230,951 $864,034 $366,917
2019 $16,612 $1,198,132 $838,407 $359,725
2018 $16,090 $1,174,712 $821,968 $352,744
2016 $14,804 $1,125,550 $790,050 $335,500
2015 $14,238 $1,108,644 $778,183 $330,461
2014 $14,198 $1,086,928 $762,940 $323,988
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC25134383

California Regional Multiple Listing Service (CRMLS)
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