5503 5511 Cherry Avenue, Long Beach, CA 90805
- $3,000,000
- List Price
- $3,000,000
- Status
- ACTIVE
- MLS#
- OC26176306
- Year Built
- 1960
- Lot Size
- 12,196
- Acres
- 0.28
- Lot Location
- Street Level
- Days on Market
- 0
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
- Neighborhood
- Other
Property Description
5503 - 5511 Cherry Avenue is a 17-unit multifamily investment opportunity in Long Beach, California. Constructed in 1960, the two-story, gardenstyle property features approximately 9,250 net rentable square feet on a 0.28-acre parcel. The community is arranged around a spacious central courtyard, with exterior walk-up access to the second-floor units. The property features a unit mix of 1 studio, 15 one-bed/one-bath units, and 1 two-bed/one-bath unit. Community amenities include gated access, security doors, on-site laundry, ceiling fans, a central courtyard, 12 surface parking spaces, and 1 garage space. Ownership completed approximately $85,000 in capital improvements in 2025, including a $52,000 electrical system upgrade with panel replacements and the $33,000 removal of the former swimming pool and installation of a concrete surface. These improvements strengthened the property’s electrical infrastructure while eliminating the maintenance and operating requirements associated with the former pool. 5503 - 5511 Cherry Avenue offers investors the opportunity to acquire a well-maintained multifamily asset with a predominantly one-bedroom unit mix and recently completed capital improvements.
Additional Information
- Pool Description
- None
- Garage Spaces Total
- 1
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 17
- Gross Scheduled Income
- $289,500
- Operating Expense
- 128191
Listing courtesy of Listing Agent: Tyler Leeson (tleeson@marcusmillichap.com) from Listing Office: Marcus & Millichap RE Invest.
Mortgage Calculator
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