5959 Cherry Avenue, Long Beach, California 90805, Long Beach, 90805 - bed, bath
ACTIVE$799,000
5959 Cherry Avenue, Long Beach, California 90805
0Bed
0Bath
2,463Sqft
4,727Lot
Year Built
1962
Close
-
List price
$799K
Original List price
$849K
Price/Sqft
$324
HOA
-
Days on market
-
Sold On
-
MLS number
PW25006065
Home ConditionFair
Features
View-
About this home
We found 3 Cons,5 Pros.
Great opportunity to own a mixed use property. Both residential units are occupied and not on leases. Commercial unit is vacant. Formally built out as dispensary. Nearly ready to go, a plug and play dispensary. Perfect for a social equity applicant.
Price History
Date
Event
Price
10/30/25
Price Change
$799,000
01/09/25
Listing
$849,000
11/01/17
Sold
$655,000
07/17/15
Sold
$400,000
02/17/15
Sold
$330,000
Condition Rating
Fair
Built in 1962, this mixed-use property is over 60 years old. While the commercial unit appears functional and 'nearly ready to go' for its specific purpose with utilitarian finishes (concrete floors, block walls, basic commercial bathroom), there are no images of the residential units. Given the property's age and the lack of visual evidence of recent renovations, it is highly probable that the residential kitchens and bathrooms are dated and would require minor to moderate updates to meet current aesthetic and functional standards. The property is aged but appears maintained enough for occupancy, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Mixed-Use Income Potential: The property offers diversified revenue streams with both residential and commercial units, providing flexibility and stability for an investor.
Turnkey Commercial Opportunity: The vacant commercial unit is formally built out as a dispensary and described as 'nearly ready to go, a plug and play dispensary,' presenting a significant advantage for a specific, high-demand market, especially for social equity applicants.
Immediate Residential Income: Both residential units are currently occupied, ensuring immediate rental income for the new owner and reducing initial vacancy risk.
Strategic Location: Located in Long Beach, a major Southern California city, the property benefits from a desirable market with potential for appreciation and strong tenant demand.
Recent Price Reduction: The property has seen a price reduction from $849,000 to $799,000, potentially offering a more attractive entry point for buyers and indicating motivated sellers.
Cons
Property Age and Potential Maintenance: Built in 1962, the property is over 60 years old, which may necessitate significant capital expenditures for updates, repairs, or replacement of aging systems and infrastructure.
Residential Lease Instability: The residential units are occupied but 'not on leases,' which could imply month-to-month tenancy, offering less long-term stability and control for a new owner compared to fixed-term leases.
Niche Commercial Market: While a strength for a specific buyer, the commercial unit's specialized build-out as a dispensary might limit the pool of potential commercial tenants or buyers if they are not interested in or unable to operate such a business.