tomo logo

$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

CRMLS #SB24222399

Listed
$2,200,000
-6.38%
09/11/2024
CRMLS

CRMLS #SB24173618

Removed
$2,350,000
09/05/2024
CRMLS

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

CRMLS logo

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