James Melton
James Melton, California Value Group, Inc.Phone: (714) 318-4664
Email: [email protected]

Real estate listing preview #1Real estate listing preview #2
listing
1 of 2
Residential IncomeSold
List Price $3,975,000
Sold Price $3,400,000
6501 Cherry Avenue
Long Beach, CA 90805
Listed by Mike Marcu DRE#00919594 [email protected] Mike Marcu, Broker
MLS: California Regional MLS (CRMLS)
Est. Mortgage
$20,618/mo

Offering a strong current capitalization rate of 5.18% at the asking price this property lines up well with todays interest rates. Featuring 10 one bedroom and 6 two bedroom apartment units, this 16 unit building in Long Beach is situated in the middle of a dynamic area. Recent favorable zoning changes, in the 90805 zip code, the city of Long Beach has set the stage for substantial developements over the next 5 to 10 years. Paving the way for strong local job growth. In addition, the property is within the shere of influence of the Ports of Long Beach and Los Angeles. The building is clean and offers rental upside.

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Information courtesy of Mike Marcu, Broker is subject to verification and is not guaranteed.
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