19
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$2,100,000
Est. payment /mo
5,196 Sqft Lot
Active
1720 Cerritos AVE Long Beach, CA 90813
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Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26104879
HOA Y/N No
Year Built 1963
Lot Size 5,196 Sqft
Property Sub-Type Apartment
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.
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
Area 699 - Not Defined
Zoning LBR3S
Interior
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7268027025
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc. #02035763
NEARBY SCHOOL & BUSINESS
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