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Listed by Tyler Leeson, DRE #01451551 • Marcus & Millichap RE Invest
$ 3,000,000
Est. payment /mo
New
5503 5511 Cherry AVE Long Beach, CA 90805
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26176306
Year Built 1960
Source California Regional MLS
Property Description
5503 - 5511 Cherry Avenue is a 17-unit multifamily investment opportunity in Long Beach, California. Constructed in 1960, the two-story, gardenstyle property features approximately 9,250 net rentable square feet on a 0.28-acre parcel. The community is arranged around a spacious central courtyard, with exterior walk-up access to the second-floor units. The property features a unit mix of 1 studio, 15 one-bed/one-bath units, and 1 two-bed/one-bath unit. Community amenities include gated access, security doors, on-site laundry, ceiling fans, a central courtyard, 12 surface parking spaces, and 1 garage space. Ownership completed approximately $85,000 in capital improvements in 2025, including a $52,000 electrical system upgrade with panel replacements and the $33,000 removal of the former swimming pool and installation of a concrete surface. These improvements strengthened the property's electrical infrastructure while eliminating the maintenance and operating requirements associated with the former pool. 5503 - 5511 Cherry Avenue offers investors the opportunity to acquire a well-maintained multifamily asset with a predominantly one-bedroom unit mix and recently completed capital improvements.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Interior
Laundry Community Facility
Exterior
Garage Spaces 13.0
Pool None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 7128031002
Special Listing Condition Not Applicable
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