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6819 Cherry Ave - Long Beach Multifamily Development 0.51 Acres of Residential Land Offered at $2,350,000 in Long Beach, CA 90805
Executive Summary
NAI Capital, as exclusive advisors to ownership, is proud to present for development two adjacent parcels located at 6819 Cherry Avenue (0.35 Acres) and 1901 East 68th Street
(0.15 Acres). This is an opportunity to develop high density multi-family residential along one of the most rapidly evolving corridors of Long Beach. Comprising of approximately 0.50 Acres total, the L-shaped lot offers direct access from both Cherry Avenue and East 68th Street.
Re-zoned in 2024 to RMU4A (Residential Mixed-Use 4, ASeries), 6819 Cherry Ave benefits from the City’s "Zone In" initiative, which was enacted to streamline high-density
residential and mixed-use projects to meet housing demands. This site offers a range of development possibilities including multifamily, mixed-use, and senior housing. Utilizing California’s State Density Bonus, the ±22,125 SF lot will allow a developer to achieve approx. 18 to 20 residential units + ground floor commercial (buyer to verify with the city).
Located adjacent to Target, Food 4 Less + Fuel, Taco Bell, Wingstop, Subway, and more. Over 20,000+ vehicles travel down Cherry Avenue daily. Close proximity to 91, 710, 105,
605, and 405 Freeways, as well as Long Beach Airport, Downtown Los Angeles, and Orange County.
Utilities already in Place.
Four-Story Development Height Limit
RMU-4A Zone - High Density Development Area
Eligible for State Density Bonus and Affordable Housing Programs
Located Within a High-Demand Infill Corridor
Expansive 0.50 Acre L-Shaped Development Parcel
Demographics Support Rental and Senior Housing Demand
Over 20,000+ Vehicles Per Day on Cherry Avenue
Strategic Access To 91, 710, 105, 605, and 405 Freeways
Proximity To Major Hubs Including the Port of Long Beach, Long Beach Airport, Downtown Los Angeles, Orange County
(0.15 Acres). This is an opportunity to develop high density multi-family residential along one of the most rapidly evolving corridors of Long Beach. Comprising of approximately 0.50 Acres total, the L-shaped lot offers direct access from both Cherry Avenue and East 68th Street.
Re-zoned in 2024 to RMU4A (Residential Mixed-Use 4, ASeries), 6819 Cherry Ave benefits from the City’s "Zone In" initiative, which was enacted to streamline high-density
residential and mixed-use projects to meet housing demands. This site offers a range of development possibilities including multifamily, mixed-use, and senior housing. Utilizing California’s State Density Bonus, the ±22,125 SF lot will allow a developer to achieve approx. 18 to 20 residential units + ground floor commercial (buyer to verify with the city).
Located adjacent to Target, Food 4 Less + Fuel, Taco Bell, Wingstop, Subway, and more. Over 20,000+ vehicles travel down Cherry Avenue daily. Close proximity to 91, 710, 105,
605, and 405 Freeways, as well as Long Beach Airport, Downtown Los Angeles, and Orange County.
Utilities already in Place.
Four-Story Development Height Limit
RMU-4A Zone - High Density Development Area
Eligible for State Density Bonus and Affordable Housing Programs
Located Within a High-Demand Infill Corridor
Expansive 0.50 Acre L-Shaped Development Parcel
Demographics Support Rental and Senior Housing Demand
Over 20,000+ Vehicles Per Day on Cherry Avenue
Strategic Access To 91, 710, 105, 605, and 405 Freeways
Proximity To Major Hubs Including the Port of Long Beach, Long Beach Airport, Downtown Los Angeles, Orange County
Property Facts
| Price | $2,350,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.51 AC |
| Property Type | Land | ||
| Zoning | RMU-4A - RMU-4A (High Density Residential) | ||
| Price | $2,350,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 0.51 AC |
| Zoning | RMU-4A - RMU-4A (High Density Residential) |
1 Lot Available
Lot
| Price | $2,350,000 | Lot Size | 0.51 AC |
| Price Per AC | $4,639,290.25 |
| Price | $2,350,000 |
| Price Per AC | $4,639,290.25 |
| Lot Size | 0.51 AC |
Two adjacent parcels located at 6819 Cherry Avenue (0.35 Acres) and 1901 East 68th Street (0.15 Acres). Comprising of approximately 0.50 Acres total, the L-shaped lot offers direct access from both Cherry Avenue and East 68th Street.
Description
Utilities already in Place. Four-Story Height Limit RMU-4A Zone - High Density Development Area Eligible for State Density Bonus and Affordable Housing Programs Located Within a High-Demand Infill Corridor Expansive 0.50 Acre L-Shaped Development Parcel Demographics Support Rental and Senior Housing Demand Over 20,000+ Vehicles Per Day on Cherry Avenue Proximity To Major Hubs Including the Port of Long Beach, Long Beach Airport, Downtown Los Angeles, Orange County
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $457,648 | |
| Land Assessment | $712,598 | Total Assessment | $1,170,246 |
Property Taxes
Parcel Numbers
Land Assessment
$712,598
Improvements Assessment
$457,648
Total Assessment
$1,170,246
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