480 Cherry Ave., Long Beach, California 90802, Long Beach, 90802 - bed, bath
480 Cherry Ave.
Long Beach, California 90802
Property Price
SUMMARY
Analysis of 480 Cherry Ave., Long Beach, California 90802 is currently available with a list price of $1,375,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Long Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1930, this triplex is well-maintained but shows significant signs of age consistent with the 'fair' category. The interior features original hardwood flooring with visible wear and staining, outdated track and pendant lighting, and older plaster wall textures. While the exterior is functional and the property is eligible for the Mills Act, the lack of recent modern renovations to the living spaces and fixtures indicates that minor updates and repairs are needed to meet current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- High Parking Capacity
Rare off-street parking for at least six vehicles provides a significant competitive advantage and convenience in the high-density Long Beach rental market.
- Mills Act Eligibility
The property is eligible for the Mills Act, offering substantial property tax savings that directly enhance the net operating income for long-term investors.
- Prime Rental Location
Situated near 4th Street and Retro Row, the property is in a highly walkable, trendy neighborhood with strong tenant demand and proximity to local amenities.
CONSRISKS & DEFICIENCIES
- Historic Maintenance Requirements
Built in 1930, the property may require specialized and potentially costly upkeep to maintain its historic character and aging infrastructure.
- Limited Availability
The current 'Active Under Contract' status indicates that a buyer is already in place, significantly limiting the opportunity for new investors to negotiate.
- Potential Capital Expenditures
Given the age of the building, significant capital improvements to major systems like plumbing, roofing, or electrical may be necessary to meet modern standards.
About 480 Cherry Ave.
Exclusive listing in Long Beach's 90802 area. This 3-unit triplex offers two 2-bedroom/1-bath units and one 1-bedroom/1-bath unit with a patio and gazebo. The property includes parking for at least six vehicles and is located near 4th Street and Retro Row. Each unit is separately metered for utilities. The building is eligible for the Mills Act, offering property tax benefits.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1930
- Lot Size
- 6,276 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Long Beach Unified Schools
Burbank Elementary School
Grades K-5 • 0.2 mi
Stevenson Elementary School
Grades K-5 • 0.9 mi
Franklin Classical Middle School
Grades 6-8 • 0.6 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 3,642 | 3,012 | 71% |
| Lot Size | 6,276 | 4,736 | 71% |
| Price | $1.38M | $1.08M | 64% |
| Price per sq ft | $378 | $433 | 50% |
| Built year | 1930 | 1923 | 71% |
| HOA | $0 | $0 | 50% |
| Days on market | 166 | 151 | 64% |
Pricing History
Listed for Sale
Sep 21, 2025
$1,375,000
Initial Listing
Sold
Sep 8, 2003
$485,000
Public Record
Sold
Jul 1, 1998
$178,500
Public Record