1081 Cherry Ave
Long Beach, CA 90813
Hellman
2 Beds
6 Baths
2,773 sqft
2 Beds
6 Baths
2,773 sqft
Local Information
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Description
1081 Cherry Avenue presents investors with a rare opportunity to acquire a fully occupied, cash-flowing six-unit asset in Long Beach at a compelling 6.42% current cap rate with immediate upside on the table. Offered at $1,100,000, $183,333 per unit and $397 per square foot, this 1923 built property delivers strong in place income of $110,208 annually against a lean 33% expense ratio, producing a current NOI of $70,569 with a clear path to $92,263 at pro forma rents. The property consists of one two-bedroom one-bath unit and five studios across 2,773 square feet of building on a 6,187 square foot lot. All six units are occupied with tenants paying gas and electric, and the building features an on-site laundry facility and garage parking for the two-bedroom unit. Studios are currently averaging $1,272 per month against a market rent of $1,600, representing an 18% rental upside that a new owner can capture through natural turnover with no heavy lifting required. At pro forma rents the GRM compresses to 8.45 and the cap rate expands to 8.39%, both favorable against comparable sales in the submarket which are averaging a 6.09% cap rate and 11.06 GRM. For the value-add investor seeking strong in-place cash flow with meaningful upside ahead, 1081 Cherry Avenue delivers day-one income, a below-market rent profile with room to grow, and the kind of returns that get stronger over time as rents are pushed to market through natural turnover.
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Home Highlights
Parking
Open Parking
Outdoor
No Info
A/C
Heating only
HOA
None
Price/Sqft
$379
Listed
71 days ago
Home Details for 1081 Cherry Ave
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Beds & Baths Number of Bedrooms: 2Number of Bathrooms: 6 |
Dimensions and Layout Living Area: 2773 Square Feet |
Heating & Cooling Heating: WallNo CoolingAir Conditioning: NoneHas HeatingHeating Fuel: Wall |
Levels, Entrance, & Accessibility Levels: Multi/Split |
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Exterior Home Features Other Structures: Other |
Parking & Garage No CarportNo GarageNo Attached GarageHas Open ParkingParking Spaces: 5Parking: Driveway,On Street,Shared Driveway |
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Days on Market: 71 |
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Year Built Year Built: 1923 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family |
Property Information Parcel Number: 7267014025 |
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Price List Price: $1,050,000Price Per Sqft: $379 |
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MLS Status: Active |
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Direction & Address City: Long Beach |
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Listing Agent Listing ID: 26676253 |
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Building Area Building Area: 2773 Square Feet |
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Lot Area: 6185.52 sqft |
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Special Conditions: Standard |
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Mls Number: 26676253Listing Url |
Last check for updates: about 1 hour ago
Listing courtesy of John 'Jack' McCann DRE # 01963932, (310) 408-0121
Lyon Stahl Investment Real Estate, Inc., (310) 425-9838
Source: CLAW, MLS#26676253
Also Listed on CRMLS.
Market trends in Long Beach
Last updated May 2026
Avg. sale price
$828K
$11.67KMoM
Sale-to-List Price
100.0%
Price per sq ft
$654
$16MoM
Available listings
846
79MoM
Price History for 1081 Cherry Ave
| Date | Price | Event | Source |
|---|---|---|---|
| 06/16/2026 | $1,050,000 | PendingToActive | CLAW #26676253 |
| 06/07/2026 | $1,100,000 | Contingent | CLAW #26676253 |
| 05/19/2026 | $1,100,000 | PriceChange | CLAW #26676253 |
| 04/07/2026 | $1,150,000 | Listed For Sale | CLAW #26676253 |
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Comparable Sales for 1081 Cherry Ave
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.17 | Multi-Family Home | $1,250,000 | 10/15/25 | 5 | 6 | 3,311 | |
0.18 | Multi-Family Home | $1,050,000 | 10/15/25 | 5 | 4 | 3,028 | |
0.23 | Multi-Family Home | $970,000 | 03/04/26 | 4 | 4 | 2,544 | |
0.03 | Multi-Family Home | $880,000 | 04/08/26 | 6 | 3 | 2,059 | |
0.20 | Multi-Family Home | $1,175,000 | 01/07/26 | 6 | 4 | 2,600 | |
0.16 | Multi-Family Home | $930,000 | 05/08/26 | 6 | 4 | 2,119 | |
0.17 | Multi-Family Home | $915,000 | 04/02/26 | 4 | 3 | 2,100 | |
0.29 | Multi-Family Home | $1,050,000 | 04/02/26 | 4 | 4 | 2,130 | |
0.24 | Multi-Family Home | $1,190,000 | 05/22/26 | 8 | 5 | 3,119 | |
0.34 | Multi-Family Home | $1,600,000 | 12/03/25 | 1 | 10 | 3,616 |
Nearby homes
Get a sense of prices in the area by checking nearby homes.
OFF MARKETLyon Stahl Investment Real Estate, Inc.
FOR SALEJulio Ruiz DRE # 01911261, Global Platinum Properties, Inc.
SOLDAPR 8, 2026Buckingham Investments, Inc
OFF MARKETTREELINE REALTY
SOLDMAR 30, 2026Jason Mitchell Real Estate CA
FOR SALESusan Hackett DRE # 02069211, Hilton & Hyland
Assigned Schools
These are the assigned schools for 1081 Cherry Ave.
- Franklin Classical Middle School
- 6-8
- Public
- 991 Students
4/10GreatSchools RatingParent Rating AverageThis school is wild, but at least it's true. This school is a mix of backgrounds and personalities, which is both good, okay, and bad. Yes, this school has "dangers," but if you do something before it does, it would be so much safer. I say this because most students here want to deal with their issues themselves, but it ends up being a mess. This school is good if you make an effort to report things you see that may endanger someone else. This school does NOT mess around when they hear a student is struggling with something, or has an issue with someone (family, friends, peers), the school will help you. This school makes an effort to help students be safe and happy, but they can only do that IF you make an effort to tell a staff member that something is going on. This school makes an effort to make sure it's safe, friendly, non-toxic, and so much more, but they need students' help with reporting something before the issue gets worse. OH, and this school has a great education system, but you do have to remind ur student if they're struggling to ask for help! The teachers here will help you (yes, even the strict ones!).Student Review6mo ago - Lincoln Elementary School
- K-5
- Public
- 742 Students
7/10GreatSchools RatingParent Rating AverageI've been a substitute at this school for at least four years. I live in the neighborhood. The teachers are amazing and collaborative. The office staff is great. This school really is a family and they truly care about their students. I am currently working as a long term substitute between this school and another school and despite not having technology integrated into the buildings (they have Chromebooks and have been teaching the students with Google Classroom but the buildings themselves have yet to be updated), Lincoln approached distance learning effectively. This is a school where teachers are encouraged to be learners and to collaborate and build each others' strengths.Other Review6y ago - Polytechnic High School
- 9-12
- Public
- 3890 Students
7/10GreatSchools RatingParent Rating AverageLong Beach Poly is the pride and joy of Long Beach. It is a school that encourages the creativity and growth of its diverse student body from many different backgrounds. All teachers in every pathway are among the best you will ever find. From supporting nearly 4,100 students, all teachers are incredibly helpful and truly want their students to grow not just academically; but provide guidance for building character. All faculty and staff are kind, warm, and truly show what being a Jackrabbit is. Right when you walk into this school, you can tell how the student body and all staff are truly proud to be at Poly and be a Jackrabbit.Student Review6mo ago 
Check out schools near 1081 Cherry Ave.
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Hellman
At least 104 Trulia users voted on each feature.
88 % Say there are sidewalks
77 % Say it's dog friendly
73 % Say it's walkable to restaurants
73 % Say car is needed
66 % Say it's walkable to grocery stores
61 % Say there's holiday spirit
51 % Say yards are well-kept
50 % Say kids play outside
50 % Say streets are well-lit
44 % Say they plan to stay for at least 5 years
40 % Say neighbors are friendly
40 % Say there's wildlife
36 % Say it's quiet
28 % Say people would walk alone at night
23 % Say there are community events
12 % Say parking is easy
Sourced by Trulia users. Learn more about our methodology.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Agent Phone: (310) 408-0121
© 2026 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW as of 2026-06-18 00:53:46 PDT. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
Some IDX listings have been excluded from this website.
Some IDX listings have been excluded from this website.