1081 Cherry Ave · Long Beach, CA 90813

$1,050,000

12 bd · 5.0 ba · 1,701 sqft · MultiFamily public records · 75 Days on market

Built 1923 6,187 sqft lot $617/sqft · 64% above area Est $1041k · at est.

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.8/30.0
• ARV discount +7.1/15.0
• DSCR +5.2/10.0
• 1% rule +3.7/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

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.

Key facts

• Six-unit asset
• Garage parking
• 6,187 sq ft lot

Tags

• SIX-UNIT ASSET
• ON-SITE LAUNDRY FACILITY
• GARAGE PARKING

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 5×1bd/1ba units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $680 ($8k/yr) — positive. Per door: $113/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $910k (13.3% below list).
• Recommended offer: $910k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 1.9% in Long Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#319 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B+; Watch: health & safety C-, crime F, cost of living F.
• Long Beach Unified (urban): math 34% / reading 50% proficiency, ranked #216 of 517 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elementary (math 27%, 817 students, 75% FRL); Franklin Classical Middle (math 22% / reading 32%, grade F, #242 of 498 statewide, top 50%, 1,095 students, 76% FRL); Polytechnic High (math 54% / reading 72%, grade B-, #184 of 1,170 statewide, top 16%, 3,952 students, 54% FRL).
• Market conditions: Rents soft (-0.3%/yr); 83 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $9,101/mo this rent would consume 200% of the median local household income ($55k/yr) (locally 4941% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $32k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($987k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $286k; list at $1.05M implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $910,100 (13.3% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.78%
• DSCR: 1.12
• GRM: 9.6

CMA / ARV

• ARV (median comp): $1,041,316
• List price: $1,050,000
• Delta: 0.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.48×
• Total profit: $-153,819
• Equity at exit: $156,558

10-year hold

• IRR: -11.9%
• Equity multiple: 0.38×
• Total profit: $-182,543
• Equity at exit: $90,785

Cash invested: $294,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90813

• Rents YoY: -0.3%
• Active inventory: 83
• Price-to-rent: 52.9×

Monthly cashflow live

• Estimated rent: $9,101 high
• Mortgage (P&I): −$5,506
• Tax from tax record: −$566 /mo · $6,790/yr
• Insurance: −$438
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,911
• Net cashflow: $680

Break-even live

Break-even rent $8,240

Max offer price $1,050,000

Occupancy floor 88%

Sensitivity live

Price	-10% $1,275	-5% $977	+0% $680	+5% $383	+10% $86
Rent	-10% $-39	-5% $321	+0% $680	+5% $1,040	+10% $1,399
Rate	-1.0pp $1,209	-0.5pp $947	base $680	+0.5pp $408	+1.0pp $131

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,654
▸ 5× units	1	1	$7,445
Total (6 units)			$9,101

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $1,050,000 Active 75 DOM
2. 2026-06-18
   days on market $1,050,000 Active 72 DOM
3. 2026-06-17
   pricestatusdays on market $1,050,000 Active 71 DOM
4. 2026-06-16
   days on market $1,100,000 Backup Offers Accepted 70 DOM
5. 2026-06-15
   days on market $1,100,000 Backup Offers Accepted 69 DOM
6. 2026-06-13
   days on market $1,100,000 Backup Offers Accepted 67 DOM
7. 2026-06-13
   days on market $1,100,000 Backup Offers Accepted 66 DOM
8. 2026-06-09
   days on market $1,100,000 Backup Offers Accepted 63 DOM
9. 2026-06-08
   days on market $1,100,000 Backup Offers Accepted 62 DOM
10. 2026-06-08
    status $1,100,000 Backup Offers Accepted 61 DOM
11. 2026-06-07
    days on market $1,100,000 Active 61 DOM
12. 2026-06-04
    days on market $1,100,000 Active 58 DOM
13. 2026-06-03
    days on market $1,100,000 Active 57 DOM
14. 2026-06-02
    days on market $1,100,000 Active 56 DOM
15. 2026-06-01
    days on market $1,100,000 Active 55 DOM
16. 2026-05-31
    days on market $1,100,000 Active 54 DOM
17. 2026-05-19
    price $1,100,000 1453-char remark

    Show marketing remark (1453 chars)

    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.

18. 2026-04-07
    listed $1,150,000 Active 1453-char remark

    Show marketing remark (1453 chars)

    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.

19. 1989-05-02
    soldstatus $286,040
20. 1982-11-23
    soldstatus $130,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $6,790 · $566/mo
• Projected year-2 tax: $7,980 · $665/mo
• Expected delta: +$1,190/yr (+$99/mo · 17.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥88°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $109,212
• − Mortgage interest: −$58,816
• − Property taxes: −$6,790
• − Insurance: −$5,250
• − Repairs & maintenance: −$8,737
• − Management: −$8,737
• − Depreciation: −$30,545
• Taxable loss: −$9,664
• Est. tax savings @ 24.0%: +$2,319
• After-tax cash flow: $10,481/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Long Beach Unified
• NCES district ID: 0622500
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $56,092
• Composite: 36.67/100
• National rank: #4607
• State rank: #216 of 517 in CA

Livability — Long Beach

• Score: 67/100
• State rank: #319
• US rank: #10758

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B+ Housing C+ Health & safety C- User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, CA
• County: Los Angeles County · 9,444,647 people
• City population: 466,088
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 51,241
• Household income: $54,526
• Rent vs Own: 84.9% rent · 15.1% own
• Severe rent burden: 4941.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 64% Two or more races 13% Asian 12% Black 11% White 9% Native American 2%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Lithuanian 1% Serbian 1%
• Foreign-born: 36% · Canada, South Korea, Vietnam
• Languages at home: 33% English-only · Spanish 56% Other Asian/Pacific 6% Tagalog/Filipino 1%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -468.88%
• Current HPI: 480.8118
• Rent YoY: ▼ -0.34%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+746.2% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $1,100,000 TheMLS
• 2026-04-07 Listed $1,150,000 TheMLS
• 1989-05-02 Sold (Public Records) $286,040 Public Records
• 1982-11-23 Sold (Public Records) $130,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $6,790 · +4.5% YoY. Source: county tax records.