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$ 2,100,000
Est. payment /mo
New
1720 Cerritos Avenue Long Beach, CA 90813
9 Beds
5 Baths
5,198 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26104879
Bedrooms 9
Lot Size 5,198 Sqft
Property Sub-Type Res Income 2-4 Units
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.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Off Alamitos and PCH
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7268027025
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Cameron Samimi, DRE#02035763 Lyon Stahl Investment Real Estate, Inc.
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