1720 Cerritos Avenue, Long Beach, CA 90813
- $2,100,000
- List Price
- $2,100,000
- Status
- ACTIVE
- MLS#
- SB26104879
- Year Built
- 1963
- Lot Size
- 5,198
- Acres
- 0.12
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 78
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- One Level
Property Description
Current 6.67% cap rate and 10.50 GRM! Meticulously remodeled with high-end finishes. Come see this beautiful 7-unit building with the best unit mix you can ask for. 1720 Cerritos is comprised of (6) 2-Bed/1-Bath and (1) 3-Bed/1.5-Bath units. 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. 1720 Cerritos Ave 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.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 7
- Gross Scheduled Income
- $199,980
- Operating Expense
- 54002
Listing courtesy of Listing Agent: Cameron Samimi (cameron@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.