6029 Cherry Avenue
6029 Cherry Avenue
Closed 5/18/21
Closed 5/18/21
Description
EXCLUSIVE LISTING | MULTIFAMILY OPPORTUNITY
• Substantial Upside in Rents
• Located Near the New Long Beach Exchange Retail Center
• $35,000 Invested in Improvements Since 2018
• New Roof, Exterior Paint & New Landscaping
• Gated Entry
• 13% Cash-on-Cash on Market RentsProperty Highlights
EXCLUSIVE LISTING | MULTIFAMILY OPPORTUNITY
• Substantial Upside in Rents
• Located Near the New Long Beach Exchange Retail Center
• $35,000 Invested in Improvements Since 2018
• New Roof, Exterior Paint & New Landscaping
• Gated Entry
• 13% Cash-on-Cash on Market Rents
- Listed by Peter Gillin • DRE #01433769 • Brokerage DRE #01220368 • Morgan Skenderian
Property Details for 6029 Cherry Avenue
Location
Sold By Buckingham Investments, Cody Charnell, DRE #01950585
Property Details for 6029 Cherry Avenue
| Status | Closed |
|---|---|
| MLS # | PW21026135 |
| Days on Market | 1 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1959 |
| Lot Size | 0.11 AC / 4,678 SF |
| County | Los Angeles County |
Location
Sold By Buckingham Investments, Cody Charnell, DRE #01950585
Building Information for 6029 Cherry Avenue
Payment Calculator
$7,899 per month
30 year fixed, 7.25% Interest
$6,522
$1,377
$0
Property Information for 6029 Cherry Avenue
- Tenant Pays: Electricity
- Gross Income: $0
- Gross Scheduled Income: $95,580
- Gross Spendable Income: $33,734
- Vacancy Allowance: 2867
- Vacancy Allowance Rate: 3
- Gross Operating Income: $92,713
- Net Operating Income: $65,939
- Number Of Rented Garages: 0
- Garage Rental Rate: $0
- Garage Income: $0
- Laundry Income: $0
- Gross Multiplier: 12.5
- Cap Rate: 5.5
- Current Financing: None
- Financing: Cash To New Loan
- Operating Expense: $26,773
- Operating Expense Percent: 28.00%
- New Taxes Expense: $14,459
- Electric Expense: $843
- Insurance Expense: $900
- Maintenance Expense: $6,691
- Maintenance Percent: 7.00%
- Professional Management Expense: $0
- Other Expense: $694
- Other Expense Description: Assess.
- Trash Expense: $843
- Water Sewer Expense: $843
- Supplies Expense: $1,500
- Total Expenses: $26,773
- Tax Rate: 1.2
- Tax Year: 2019
- Tax Annual Amount: $14,459
- Tax Tract Number: 8973
- Tax Census Tract: 5705.02
- Taxes Percent: 1.20%
- Tax Lot: 16
- Assessments YN: No
- Assessments: None
- Community Features: Curbs, Gutters, Park, Sidewalks
- Laundry: No
- Laundry Features: None
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: Wall/Window Unit(s)
- Heating Type: Forced Air
- Heating: Forced Air
- Heat Equipment: Forced Air Unit
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
- Lot Features: 6-10 Units/Acre
- Number Of Units: 6
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Utilities: Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected
- Electric: Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected
- Water Source: Public
- Garage Spaces: 0
- Parking Garage: Assigned, On street
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Parking Features: Assigned, Street
- Builders Tract Name: North Long Beach
- Builders Tract Code: North Long Beach (NLB)
- Unit Type Units Total: 6
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,300
- Unit Type Total Rent: $7,965
- Unit Type Pro Forma: 1525
- Unit Type Type: 1
- Number Of Units Leased: 6
- Rent Controlled: No
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 6
- Number Of Separate Gas Meters: 6
- Number Of Separate Water Meters: 1
Property History for 6029 Cherry Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 6029 Cherry Avenue
Schools near 6029 Cherry Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
Harte Elementary School PublicK to 5 | ||
Lindbergh Middle School Public6 to 8 | ||
Jordan High School Public9 to 12 | ||
IVA - Intellectual Virtues Academy Middle School Charter6 to 8 |
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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Listing Courtesy of Morgan Skenderian, Peter Gillin, DRE #01433769
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.