5503 Cherry Ave — Sale in Long Beach, CA
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Long Beach, CA 90805
Photos
Investment Figures
- Cap rate
- 5.17%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is pleased to present 5503 - 5511 Cherry Avenue, 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. Investment Highlights: • Location & Scale: 17-unit multifamily investment property in Long Beach, CA. • Strong Unit Mix: Predominantly one-bedroom units (15 1BD/1BA, 1 2BD/1BA, 1 Studio). • Property Size: 9,250 net rentable square feet situated on a 0.28-acre parcel. • Recent Cap Ex: $85,000 in major capital improvements completed in 2025. • Infrastructure Upgrade: Includes a $52,000 electrical system and panel modernization. • Lower Operating Costs: $33,000 former pool removal eliminates high maintenance liabilities. • Tenant Amenities: Gated access, security doors, ceiling fans, and on-site laundry. • Parking & Grounds: 13 on-site parking spaces and a spacious, walk-up central courtyard.
Market Context
This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 5.2% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Long Beach, CA — view the full market.
Contact
- Nick Kazemi · (949) 419-3333 · nick.kazemi@marcusmillichap.com
- Evan Gray · (949) 419-3227 · evan.gray@marcusmillichap.com
- Tyler Leeson · (714) 713-9086 · tyler.leeson@marcusmillichap.com
- Matt Kipp · (949) 419-3254 · matt.kipp@marcusmillichap.com
- Michael Derk · (949) 419-3386 · michael.derk@marcusmillichap.com
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