1720 Cerritos Avenue, Long Beach, CA 90813
-
Listed Price :
$2,200,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
-
Year Built :
1963
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.
Interior Features
| Laundry Information |
| Location(s) |
Washer Hookup, Gas Dryer Hookup |
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
1720 Cerritos Avenue |
| City |
Long Beach |
| State |
CA |
| Zip |
90813 |
| County |
Los Angeles |
| Listing Agent |
Cameron Samimi DRE #02035763 |
| Courtesy Of |
Lyon Stahl Investment Real Estate, Inc. |
| List Price |
$2,200,000 |
| Status |
Active |
| Type |
Residential Income |
| Subtype |
Apartment |
| Structure Size |
N/A |
| Lot Size |
5,194 |
| Year Built |
1963 |
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.
