About this home

5503 - 5511 Cherry Avenue is a 17-unit multifamily investment opportunity in Long Beach, California. Constructed in 1960, the two-story, gardenstyle property features approximately 9,250 net rentable square feet on a 0.28-acre parcel. The community is arranged around a spacious central courtyard, with exterior walk-up access to the second-floor units. The property features a unit mix of 1 studio, 15 one-bed/one-bath units, and 1 two-bed/one-bath unit. Community amenities include gated access, security doors, on-site laundry, ceiling fans, a central courtyard, 12 surface parking spaces, and 1 garage space. Ownership completed approximately $85,000 in capital improvements in 2025, including a $52,000 electrical system upgrade with panel replacements and the $33,000 removal of the former swimming pool and installation of a concrete surface. These improvements strengthened the property's electrical infrastructure while eliminating the maintenance and operating requirements associated with the former pool. 5503 - 5511 Cherry Avenue offers investors the opportunity to acquire a well-maintained multifamily asset with a predominantly one-bedroom unit mix and recently completed capital improvements.

Facts and features

Schools

• Harte Elementary School

  elementary · K-5 · 0.3 mi

  6

• Lindbergh Middle School

  middle · 6-8 · 0.7 mi

  4

• Jordan High School

  high · 9-12 · 1.5 mi

  3

• Gethsemane Baptist Christian

  elementary · K-12 · 0.8 mi

• Spectrum Center- Long Beach Middle Market Street

  elementary · 2-12 · 0.8 mi

• Seaside Academy

  elementary · K-12 · 0.8 mi

Price history

• Oct 22, 2026 · Price Changed$2,850,000
• Aug 12, 2026 · Listed$3,000,000
• Nov 22, 1972 · Sold$135,000

Tax history

• 2025$7,575 tax · $345,292 assessed
• 2024$7,158 tax · $338,522 assessed
• 2023$6,999 tax · $325,378 assessed
• 2022$6,641 tax · $318,999 assessed
• 2021$6,410 tax · $312,745 assessed
• 2020$6,392 tax · $309,540 assessed
• 2019$6,318 tax · $303,471 assessed
• 2018$5,997 tax · $297,522 assessed

Where it is