Movoto Real Estate
Sold on 04/10/2024
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101 Cherry Ave, Long Beach, CA 90802

$3,800,000

Last sold 04/10/2024 after 134 Days

  • —

    bed

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    bath

Multi-family not for sale

About 101 Cherry Ave

Property type Multi-family
Neighborhood
Year built 1948
HOA fee $0/month
Lot size 10,019 Sqft
Rental estimate
Property description
Park Side West Garden Apartments is a 17-unit multifamily investment property located at 101 - 107 Cherry Avenue in Long Beach, CA. Park Side West offers an attractive mix of studio and one-bedroom floor plans and amenities including private balconies (select units) and storage lockers. Units feature a mix of tile and carpet flooring, as well as granite countertops, tile backsplashes, and walk-in closets. Park Side West benefits from its unparalleled Alamitos Beach location, adjacent to Bixby Park and a short walk to popular local beaches. The property is just 0.40 miles from Retro Row, providing residents with easy access to some of Long Beach’s most unique and vibrant shops and restaurants. Additionally, residents enjoy Park Side West’s close proximity to Downtown Long Beach, the city’s cultural and financial hub. Furthermore, the property is just over 1.50 miles from the abundance of retail, dining, and entertainment options at Belmont Shore’s 2nd Street. The property’s ideal Long Beach location surrounded by neighborhoods offering a wide variety of outdoor activities as well as employment, transportation, and retail amenities is a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at Park Side West Garden Apartments.
Listed by
Listing Agent - Tyler Leeson
Listing Agent Contact: 714-713-9086
Listing Office - Marcus & Millichap RE Invest
Source: CRMLS mls logo
MLS#OC23217739 • last updated 2 years ago
Movoto checked CRMLS for data 7 minutes ago
Overview
Levels/Style Two
Type Residential Income
SubType Apartment
Status Closed
Lot Size (Acres) 0.23
Lot Size (SqFt) 10018.8
Year Built 1948
Interior
Laundry None
Exterior
Building Area Square Feet, 12980
Lot Description Level With Street
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Los Angeles
Community Features Curbs, Sidewalks
Zoning LBR4N
Directions Nearby Cross Streets: Cherry Avenue & Ocean Boulevard
APN 7265020015
Multifamily Details
Vacancy Allowance Rate 3
Vacancy Allowance 9299
Expense: Trash 2075
Operating Expense 118949
Cap Rate 4.28
Expense: Insurance 11050
Total Expenses 118949
Expense: Maintenance 10200
Expense: Water/ Sewer 2075
Gross Income 309960
Gross Operating Income 300661
Expense: Electric 2074
Gross Multiplier 13.71
Gross Scheduled Income 309960
Expense: Fuel 2075
Rental est.: $1,150/month
Gross rent multiplier: 275.4
  • Apr 2024
    Public Records
  • Apr 11, 2024 Sold
    $1,220,000 (-67.9%)
  • Apr 2024
    mls logo MLS # OC23217739
  • Apr 10, 2024 Sold
    $3,800,000 (-10.6%)
  • Mar 13, 2024 Pending
    —
  • Feb 28, 2024 Active
    —
  • Nov 28, 2023 Listed
    $4,250,000
  • Year Property taxes Tax assessment
  • 2024
    $27,886 +1.8%
    $1,996,201
  • 2023
    $27,394 +6.4%
    $1,996,201 +2.0%
  • 2022
    $25,758 +2.4%
    $1,957,109 +4.03%
  • 2021
    $25,163 +0.3%
    $1,881,209
  • 2020
    $25,095
    $1,881,209
  • 101 Cherry Ave
    $3.8M
  • Bixby Park
    $549K -11% y/y
  • 90802
    $459K -8% y/y
  • Long Beach
    $699K 0% y/y
No chart available
Statistics calculated by Movoto

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Source: GreatSchools.org © 2026. All rights reserved.

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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
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