90813 Homes with Shared Driveway Parking features

Welcome to the vibrant community of Long Beach, California, where the charm of coastal living meets the convenience of urban amenities! Nestled in the heart of Los Angeles County, the 90813 zip code is a hidden gem that boasts a rich blend of culture, history, and modern living.

This lively neighborhood is characterized by its diverse architecture, featuring a mix of charming bungalows, contemporary townhomes, and spacious single-family residences. Many homes in the area come equipped with shared driveway parking, providing a practical solution for residents who value both convenience and community. This feature not only maximizes space but also fosters a sense of camaraderie among neighbors, making it easy to connect with those who share your street.

Living in 90813 means you’re just moments away from the stunning Long Beach coastline, where sandy beaches and scenic parks invite you to unwind and enjoy the Southern California sunshine. The area is rich in local attractions, including the iconic Queen Mary, bustling shopping districts, and a variety of dining options that cater to every palate. With excellent public transportation links and proximity to downtown Long Beach, residents can easily explore the wider Los Angeles area.

Whether you're a first-time homebuyer or looking to invest in a rental property, the homes in 90813 provide an ideal opportunity to experience the best of Long Beach living. Embrace the unique culture, community spirit, and coastal lifestyle that this vibrant zip code has to offer. Your dream home awaits!

Newest 90813 Homes with Shared Driveway Parking features

$1,050,000

2 Beds ⋅ 6 Baths ⋅ 26676253 MLS ⋅ Active Status

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.

1081 Cherry Avenue, Long Beach

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.