1720 Cerritos Avenue
Long Beach, CA 90813
Active for $2,200,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 5,194 sqft
| MLS | SB24222399 |
| Year Built | 1963 |
| Property Type | Apartment |
| County | Los Angeles |
| Status | Active |
| Active | $2,200,000 |
| Structure Size | N/A sqft |
| Lot Size | 5,194 sqft |
| Beds | N/A |
| Baths | N/A |
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.
Listing information courtesy of: Cameron Samimi, Lyon Stahl Investment Real Estate, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 11/23/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Grace Kim
REALTOR®
Direct: 818.272.5586
Email: Email Me
DRE: 01904662
DRE #01873088
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