$2,200,000
- Beds
- Unknown
- sq ft
- Unknown
1720 Cerritos Ave, Long Beach, CA 90813
1720 Cerritos Ave
Long Beach, CA 90813
- 7 days on market
Current 6.62% cap rate and 10.69 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. Two 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.
Details
Property type
Apartment
Lot size
5,194 sq ft
Price per sq ft
Unknown
Year built
1963
Price History
10/29/2024
CRMLS #SB24222399
Listed
$2,200,000
-6.38%
09/11/2024
CRMLS #SB24173618
Removed
$2,350,000
09/05/2024
CRMLS #SB24173618
Listed
$2,350,000
+80.77%
Schools & Community
Neighborhood:
Poly High District
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 11/05/2024 at 1:25 PM
Listing updated: 11/04/2024 at 9:24 AM
Listed by: Cameron Samimi, Lyon Stahl Investment Real Estate, Inc. Phone #: (310) 425-9838
MLS: CRMLS #SB24222399
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