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6819 CHERRY AVE
LONG BEACH, CA 90805-1718
Asking Price
$2.35M
Asset Type
Residential Multifamily
Class
Class B
What's Special
Long Beach Multifamily Development <p>Covered Land Play Development Opportunity</p><p>Expansive 0.50 Acre L-Shaped Development Parcel</p><p>New Zoning Change - RMU-4A Zone - High Density Development Zone</p><p>Potential for 18 to 20 Units + Ground Floor Commercial (Verify with City)</p><p>Ideal For Multifamily Apartments or Senior Housing Development</p><p>Maximum Incentives Available - Eligible for State Density Bonus Programs</p><p>Located Within a High-Demand Urban Infill Growth Corridor</p><p>Adjacent to Target, Food 4 Less +
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NOI
$80,000
Cap Rate
3.40%
DSCR
0.57
Underwater
Cash-on-Cash
-8.44%
Monthly Payment
$11,626.518
Annual Cash Flow
$-59,518.214
