751 Cerritos Avenue, Long Beach, CA 90813
Property
Sold August 2024
Listing Agent: Jonathan Swire (DRE #01336277) · Listing Office: The Agency · Contact: 424-230-3700 · Bought with: Cameron Samimi · Lyon Stahl Investment Real Estate, Inc. · MLS #24391473 · Source: CRMLS
About this property
PRICED TO SELL. 9X GRM and a 6.5% CAP on actual rents with upside to a 7.1% CAP. 10 units in Alamitos Beach in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Built in 1987, the property is professionally managed and well maintained. There are 14 onsite parking spaces - 1 for each unit plus 4 for rent. The 2nd floor units feature tall, vaulted ceilings and some have partial ocean views. The Property has an onsite laundry room. All units were updated from 2017-2019. The subpanels are 50 AMPS and the main panel is 200 AMPS. Plumbing is copper - Buyer to verify. Priced at only $340/SF. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND ACTUAL EXPENSES.
Listing description from the August 2024 sale, as reported to CRMLS.
Sale history