1081 Cherry Ave

Long Beach, CA 90813

$1,150,000
Price
2
Beds
6
Baths
2,773 Sq. Ft.
$415 / Sq. Ft.
2,773
Sq. Ft.
$415
per Sq. Ft.
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Description

1081 Cherry Avenue presents investors with a rare opportunity to acquire a fully occupied, cash-flowing six-unit asset in Long Beach at a compelling 6.08% current cap rate with immediate upside on the table. Offered at $1,150,000, $191,667 per unit and $415 per square foot, this 1923 built property delivers strong in place income of $110,208 annually against a lean 33% expense ratio, producing a current NOI of $69,944 with a clear path to $91.638 at pro forma rents. The property consists of one two-bedroom...1081 Cherry Avenue presents investors with a rare opportunity to acquire a fully occupied, cash-flowing six-unit asset in Long Beach at a compelling 6.08% current cap rate with immediate upside on the table. Offered at $1,150,000, $191,667 per unit and $415 per square foot, this 1923 built property delivers strong in place income of $110,208 annually against a lean 33% expense ratio, producing a current NOI of $69,944 with a clear path to $91.638 at pro forma rents. The property consists of one two-bedroom one-bath unit and five studios across 2,773 square feet of building on a 6,187 square foot lot. All six units are occupied with tenants paying gas and electric, and the building features an on-site laundry facility and garage parking for the two-bedroom unit. Studios are currently averaging $1,272 per month against a market rent of $1,600, representing an 18% rental upside that a new owner can capture through natural turnover with no heavy lifting required. At pro forma rents the GRM compresses to 8.83 and the cap rate expands to 7.97%, both favorable against comparable sales in the submarket which are averaging a 6.09% cap rate and 11.06 GRM. For the value-add investor seeking strong in-place cash flow with meaningful upside ahead, 1081 Cherry Avenue delivers day-one income, a below-market rent profile with room to grow, and the kind of returns that get stronger over time as rents are pushed to market through natural turnover.
  1. Listed by John 'Jack' McCann • DRE #01963932 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 1081 Cherry Avenue

Zoning
LBR2N
Property Attached YN
false
Parcel Number
7267014025
Total Units
6.0
Living Area
2773
Source Living Area
Vendor Enhanced
Area
Downtown Area, Alamitos Beach (4)
Vacancy Rate
No
LISTING UPDATED: 04/15/2026 12:06 AM

Property Details for 1081 Cherry Avenue

StatusActive
MLS #26676253
Days on Market36
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.14 AC / 6,187 SF
CountyLos Angeles County
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Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., John 'Jack' McCann, DRE #01963932
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Building Information for 1081 Cherry Avenue

Stories-Residences-Year Built1923Building Size-Lot Size0.14 AC / 6,187 SF

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$6,357 per month

30 year fixed, 6.46% Interest

Principal and Interest

$5,791

Property Taxes

$566

HOA Dues

$0

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Property Information for 1081 Cherry Avenue

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $106,902
  • Net Operating Income: $69,944.00
  • Gross Income: $110,208
  • Gross Rent Multiplier: $10.43
  • Total Annual Expense: 36957
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.142
  • Lot Size Square Feet: 6187
  • Lot Size Dimensions: 44x140
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Driveway, On street, Shared Driveway
  • Total Parking: 5
  • Parking Features: Shared Driveway, Driveway, Street
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall
  • Heating Type: Wall
  • Equipment: None
  • Common Walls: Detached/No Common Walls
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 04-07-2026
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,650.00
  • Unit Actual Rent: $2,650.00
  • Unit Projected Rent: $2,850.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,334.00
  • Unit Actual Rent: $1,334.00
  • Unit Projected Rent: $1,600.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,300.00
  • Unit Actual Rent: $5,200.00
  • Unit Projected Rent: $1,600.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $93,808.00
  • Assessed Improvement Percent: 21.27
  • Assessed Land Value: $347,154.00
  • Assessed Land Percent: 78.73
  • Assessed Total Value: $440,962.00

Property History for 1081 Cherry Avenue

DateEvent & SourcePriceAppreciation
Apr 7, 2026

Listed (Active)

CLAW #26676253

$1,150,000—
Apr 7, 2026

Listed (Active)

CRMLS #26676253

$1,150,000—
DateEvent & SourcePrice
04/07/2026

Listed (Active)

CLAW #26676253

$1,150,000
04/07/2026

Listed (Active)

CRMLS #26676253

$1,150,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1081 Cherry Avenue

Taxable ValueLand$347,154Additions$94,168Total$441,322
Tax Record2025$6,790 ($566 / month)
Home Facts
Total Finished SqFt2,773 SqFtAbove Grade Finished SqFt2,773 SqFtLot Size6,187 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLBR2NCountyLOS ANGELESAPN7267-014-025

Schools near 1081 Cherry Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Lincoln Elementary School
Public - K to 5
Franklin Classical Middle School
Public - 6 to 8
Polytechnic High School
Public - 9 to 12
Clear Passage Educational Center
Charter - 9 to 12
Rating
School
Distance
Lincoln Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1081 Cherry Avenue, Long Beach, CA 90813

1081 Cherry Avenue is a multi-family home for sale in Long Beach, CA 90813. This property was listed for sale on April 7, 2026 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $1,150,000. This listing's school district is Long Beach Unified School District. Nearby schools include Lincoln Elementary School, Franklin Classical Middle School and Polytechnic High School. 1081 Cherry Avenue is a 2-bed, 6-bath, 2,773 sqft multi-family home built in 1923.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., John 'Jack' McCann, DRE #01963932

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.