Residential Income - 1720 Cerritos Avenue, Long Beach, CA

$2,100,000

1720 Cerritos Avenue, Long Beach, CA

1720 Cerritos Avenue, Long Beach, CA 90813 - $2,100,000 · Multi-Family Home for Sale, photo 3

1720 Cerritos Avenue, Long Beach, CA 90813 - $2,100,000 · Multi-Family Home for Sale, photo 4

1720 Cerritos Avenue, Long Beach, CA 90813 - $2,100,000 · Multi-Family Home for Sale, photo 5

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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.

Property details

Year built

1963

Property type

Residential Income

Lot size

5,198 sqft

Location

1720 Cerritos Avenue • Long Beach, CA 90813

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Listed by

Cameron Samimi · Lyon Stahl Investment Real Estate, Inc.

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Closed sales reported in 90813, nearest first, last 12 months. All recent sales in Long Beach →

Sale history for 1720 Cerritos Avenue →