1720 Cerritos Avenue, Long Beach, CA 90813 - MLS#SB25025508

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 2,190,000

Est. payment | -/mo

9 Beds

5 Baths

5,198 Sqft Lot

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$ 2,190,000

Est. payment | -/mo

Save

9 Beds

5 Baths

5,198 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25025508

Bedrooms 9

HOA Y/N No

Lot Size 5,198 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

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. OM in supplements.
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. OM in supplements.

Location

State CA

County Los Angeles

Area Long Beach (90813)

Zoning Assessor

Building

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 1 Story

Others

Acceptable Financing Cash, Conventional, Exchange

Space Rent $2,366

Listing Terms Cash, Conventional, Exchange

Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.

+1(619) 302-3010

matt@homecrave.com

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1720 Cerritos Avenue Long Beach, CA 90813