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$3,199,000

Beds
Unknown
sq ft
Unknown

1101 Cherry Ave, Long Beach, CA 90813

1101 Cherry Ave

Long Beach, CA 90813

  • 5 days on market
    • Price drop $28,800,000↓
Wow, this Spanish beauty is an absolute bread and butter property in the heart of Long Beach! Most every unit has been remodeled and updated. All units are vintage studios with either Juliet balconies on the 2nd floor or rear doors to a walk way for the lower units. Painted with designer colors, laminate flooring, vintage cabinets and all stoves and refrigerators are seller owned. There is an on-site coin operated laundry room with 2 washers and 2 dryers which adds to the already lucrative income on this property. The exterior has been fully repainted, the roof has a white Elasta-Coasting with a five year warranty to help reduce the heat on the upper apartments. The main exterior panel has had an impressive and massive upgrade. There is a small basement which will show the updates to the foundation and supports of the property. There is a cute slate rear courtyard for the tenants to utilize and also allows access to the rear dead end alley. This is a great property with tremendous opportunity for growth!

Details

Property type

Apartment

Est. home value

$2,726,796

Lot size

3,961 sq ft

Price per sq ft

Unknown

Year built

1923

Price History

01/17/2025
CRMLS

CRMLS #PW25007491

Listed
$3,199,000
+25.45%
10/18/2021
CRMLS

CRMLS #SB21172174

Sold
$2,550,000

Schools & Community

Neighborhood: 

Hellman

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Sidewalks

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Luther Burbank Savings

Loan start date

June 2022

Original loan amount

$2,292,000

Est. remaining balance

Not provided

Interest rate

5.11%

Loan type

Building or Construction Loan

Seller

Coastal Range Group Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 01/22/2025 at 12:00 AM

Listing updated: 01/19/2025 at 3:45 AM

Listed by: Shawn Mohler, The Mohler Real Estate Group Phone #: (562) 505-7953

MLS: CRMLS #PW25007491

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