1720 Cerritos Avenue

Long Beach, CA 90813

$2,200,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1963

calendar_month Built

Property Description

Current 6.31% cap rate and 11.09 GRM! Meticulously remodeled with high-end finishes. Come see this beautiful 7 unit building with best unit mix you can ask for. 1720 Cerritos is comprised of (6) 2Bed+1Bath and (1) 3Bed+1.5Bath units. Three units are currently vacant and there is an opportunity to add significant value by building out (2) Studio+1Bath ADUs. Adding the ADUs would generate an extra $3,500/month. Each unit has its own washer and dryer, dishwashers, new floors, kitchen and fixtures. All demanding higher rents for the area. This property is massive with each unit averaging over 800 sqft. The property also has new copper plumbing, new roof and new electrical sub panels in each unit - all of which were updated in the last 5 years. T he subject property is located just outside 6 Billion dollars worth of development flooding into Downtown Long Beach, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block and Queen Mary Island.

Listing Information

List Price $2,200,000
Status Active
MLS SB24222399
Type Residential Income
Subtype Apartment
Year Built 1963
Lot Size 5,194
Structure Size N/A
Courtesy Of Lyon Stahl Investment Real Estate, Inc.
Listing Agent Cameron Samimi DRE#02035763

Interior Features

Laundry Information
Location(s) Washer Hookup, Gas Dryer Hookup
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

Listing information courtesy of: Cameron Samimi, Lyon Stahl Investment Real Estate, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Oct 29th, 2024 at 12:30 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.