Memory instructions such as ldr, str or b take 4 cycles each in ARM assembly.
Is it because each memory location is 4 bytes long?
ARM has a pipelined architecture. Each clock cycle advances the pipeline by one step (e.g. fetch/decode/execute/read...). Since the pipeline is continuously fed, the overall time to execute each instruction can approach 1 cycle, but the actual time for an individual instruction from 'fetch' through completion can be 3+ cycles. ARM has a good explanation on their website:
http://infocenter.arm.com/help/index.jsp?topic=/com.arm.doc.ddi0222b/ch01s01s01.html
Memory latency adds another layer of complication to this idea. ARM employs a multi-level cache system which aims to have the most frequently used data available in the fewest cycles. Even a read from the fastest (L0) cache involves several cycles of latency. The pipeline includes facilities to allow read requests to complete at a later time if the data is not used right away. It's easier to understand by way of example:
LDR R0,[R1]
MOV R2,R3 // Allow time for memory read to occur
ADD R4,R4,#200 // by interleaving other instructions
CMP R0,#0 // before trying to use the value
// By trying to access the data immediately, this will cause a pipeline
// 'stall' and waste time waiting for the data to become available.
LDR R0,[R1]
CMP R0,#0 // Wastes at least 1 cycle due to pipeline not having the data
The idea is to hide the inherent latencies in the pipeline and, if you can, hide additional latencies in the memory access by delaying dependencies on registers (aka instruction interleaving).