Multifamily
Cherry Avenue Collection
833 - 915 Cherry Ave, Long Beach, CA 90813
Listing Price: $7,000,000
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire the Cherry Ave Collection, (the “Collection”, the “Portfolio” or the “Property”), a 36-unit, 4-property multifamily portfolio located in Long Beach, California. Built between 1922 and 1923, the Collection offers investors an opportunity to acquire a sizable footprint in one of Los Angeles County’s most desirable rental markets.
The Collection features an attractive mix of studio, one, and two-bedroom floor plans with desirable property amenities including surface and garage parking, on-site laundry (select units feature laundry hookups), and spacious common courtyards.
The Collection is within walking distance of a variety of lifestyle amenities including Rose Park, the shops and restaurants of Retro Row, and Alamitos Beach. Additionally, the Collection is just a short commute to employers in Downtown Long Beach and adjacent employment hubs such as the South Bay and Orange County via the 710 and 405 freeways.
In summary, the Cherry Ave Collection’s fantastic location offers residents access to a variety of employment, transportation, and retail amenities, all of which will attract a diverse renter pool. With rental upside and strong rental metrics, the Collection represents an attractive opportunity for a new owner seeking well located units.
Cherry Avenue Collection
Investment Highlights
- The Cherry Avenue Collection represents a rare opportunity to acquire 4 contiguous parcels, featuring 36 total multifamily units in a desirable Long Beach Location.
- The garage areas at 905 and 915 Cherry are set up ideally for conversion to accessory dwelling units (ADUs) potentially allowing for 8 new units.
- Downtown Long Beach is home to over 2,500 businesses, 38,000 jobs, and one of the busiest seaports in the United States.
- Residents of the Portfolio benefit from proximity to the region's robust employment hubs and entertainment centers, such as Downtown Long Beach, Belmont Shore, the South Bay, Downtown Los Angeles, and North Orange County.
- Located less than half-a-mile south of the Cherry Avenue Collection, Retro Row offers a unique showcase of Long Beach culture including a variety of vintage and kitschy shops, as well as bars and restaurants.
Listing Price: $7,000,000
Investment Highlights
- The Cherry Avenue Collection represents a rare opportunity to acquire 4 contiguous parcels, featuring 36 total multifamily units in a desirable Long Beach Location.
- The garage areas at 905 and 915 Cherry are set up ideally for conversion to accessory dwelling units (ADUs) potentially allowing for 8 new units.
- Downtown Long Beach is home to over 2,500 businesses, 38,000 jobs, and one of the busiest seaports in the United States.
- Residents of the Portfolio benefit from proximity to the region's robust employment hubs and entertainment centers, such as Downtown Long Beach, Belmont Shore, the South Bay, Downtown Los Angeles, and North Orange County.
- Located less than half-a-mile south of the Cherry Avenue Collection, Retro Row offers a unique showcase of Long Beach culture including a variety of vintage and kitschy shops, as well as bars and restaurants.
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire the Cherry Ave Collection, (the “Collection”, the “Portfolio” or the “Property”), a 36-unit, 4-property multifamily portfolio located in Long Beach, California. Built between 1922 and 1923, the Collection offers investors an opportunity to acquire a sizable footprint in one of Los Angeles County’s most desirable rental markets. The Collection features an attractive mix of studio, one, and two-bedroom floor plans with desirable property amenities including surface and garage parking, on-site laundry (select units feature laundry hookups), and spacious common courtyards. The Collection is within walking distance of a variety of lifestyle amenities including Rose Park, the shops and restaurants of Retro Row, and Alamitos Beach. Additionally, the Collection is just a short commute to employers in Downtown Long Beach and adjacent employment hubs such as the South Bay and Orange County via the 710 and 405 freeways. In summary, the Cherry Ave Collection’s fantastic location offers residents access to a variety of employment, transportation, and retail amenities, all of which will attract a diverse renter pool. With rental upside and strong rental metrics, the Collection represents an attractive opportunity for a new owner seeking well located units.
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