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555 Cherry Ave
Long Beach, CA 90802 Downtown Long Beach

$2,240,000 USD

Apartments For Sale  •  8,200 SF

Property Details

  • Property Type Apartments
  • Total Building Size 5,793 SF
  • Lot Size 0.13 AC
  • Building Class C
  • Year Built 1963
  • Cap Rate 5.50 %
  • Zoning LBR1N
50 Transit Score
96 Walk Score

Highlights

8.02% Market CAP Rate
All New Electrical Main & Subpanels currently being Installed
0.70 miles to the Beach
Approximately 31% +/- Upside
Parking includes 5 Single-Car Garages, and 5 Open Spaces
No local rent control (only to AB 1482)

Financial Summary (Actual)

Net Operating Income: $123,108 USD (2025)
Cap Rate: 5.50 %
Total Expenses: $57,359 USD

Amenities

  • Laundry Facilities

Public Transportation

AirportDriveWalkDistance
Long Beach (Daugherty Field) 9 min - 3.7 mi
John Wayne/Orange County 29 min - 19.9 mi
Los Angeles International 34 min - 22.7 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 5
Type: Surface
Included in Rent: Yes
Pat Swanson 213-864-2862 Stream Realty Partners, LP
Pat Swanson 213-864-2862 Stream Realty Partners, LP