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  • 1036 Cherry Avenue

1036 Cherry Avenue, Long Beach, CA 90813

$2,350,000 Approx. USD 10 beds, 8 baths
4,722 sqft
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Photo of Scott Waid

Scott Waid REALTOR® - Sales Associate 858-945-4004 m
858-683-8071 o
Lic#: 01338684
NRDS ID: 196519114
Swaid3@san.rr.com Text Me
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Lic#: 01338684
NRDS ID: 196519114
Swaid3@san.rr.com Rancho Bernardo Office
16969 Bernardo Center Drive, Suite 100
San Diego, CA 92128
Phone: 858-487-3520
Fax: 858-451-0932
 Rancho Bernardo 16969 Bernardo Center Drive, Suite 100
San Diego, CA 92128
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Fax: 858-451-0932
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Listing Agent


Julio Ruiz | ziuroiluj@gmail.com
Lic#: 01911261
Broker: Courtesy of Global Platinum Properties, Inc.
Phone: 818-524-0706

Co Listing Agent


Armin Soleimani | arminsoleimani@gmail.com
Lic#: 01846872
Broker: Courtesy of Global Platinum Properties, Inc.
Phone: 310-666-2246

Agent Remarks

Huge ~250k Price Reduction! 8 Renovated Non-Rent Controlled units cash flowing at an amazing Current Cap Rate of 7.2% from day 1! Excellent unit mix of 1 (3bed/1bath) unit and 7 (1bed/1bath) units including 2 brand-new attached ADUs. Several units boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash, further minimizing the operating expenses. Non-LA-City rent controlled asset allowing significant 8.7% annual rent increases (5%+CPI) for future upside. Prime North Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 26839619
Price: $2,350,000
Beds: 10
Baths: 8
Built in 1921
4,722 sqft
2 stories
0.13 acres
Lot size: 0.1342
County: Los Angeles
Property style: Traditional
Zoning: LBR2N
Parking description: None
Heating description: Wall Furnace
MLS area: 3 - Eastside, Circle Area

Last Updated: 6/6/2026

 Days On Market (DOM): 22

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This listing belongs to the 3 - Eastside, Circle Area MLS area

The style of this listing is Traditional.
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Lat/Long: 33.779619, -118.167325.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Photo of Scott Waid

Scott Waid REALTOR® - Sales Associate 858-945-4004 m
858-683-8071 o
Lic#: 01338684
NRDS ID: 196519114
Swaid3@san.rr.com Text Me
Call My Cell
Call My Office
Lic#: 01338684
NRDS ID: 196519114
Swaid3@san.rr.com
Rancho Bernardo Office
16969 Bernardo Center Drive, Suite 100
San Diego, CA 92128
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