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1720 Cerritos Avenue

Long Beach, CA 90813
  • $2,350,000
  • STATUS: ACTIVE
  • ON SITE: 58 Days
  • ID#: SB24173618
UPDATED: 23 min ago
$2,350,000
  • 9
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Current 6.42% cap rate and 10.99 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. Each unit has its own washer and dryer, a/c splits, dishwashers, new floors, kitchen and bathrooms. 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. The 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. Current 6.42% cap rate and 10.99 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. Each unit has its own washer and dryer, a/c splits, dishwashers, new floors, kitchen and bathrooms. 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. The 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.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sandiegoareahomesforsale.co/homes/154774766
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1720 Cerritos Avenue Long Beach, CA 90813

  • Price: $2,350,000
  • Status: ACTIVE
  • On Site: 58 Days
  • Updated: 23 min ago
  • ID#: SB24173618
9
Beds
0
Baths
0
½ Baths
0.12
Acres
Neighborhood:
Long Beach (90813)
County:
Los Angeles
Area:
Long Beach (90813)
Property Description
Current 6.42% cap rate and 10.99 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. Each unit has its own washer and dryer, a/c splits, dishwashers, new floors, kitchen and bathrooms. 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. The 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. Current 6.42% cap rate and 10.99 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. Each unit has its own washer and dryer, a/c splits, dishwashers, new floors, kitchen and bathrooms. 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. The 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.
Exterior Features

Pool N/K

Interior Features

Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 2

Property Features

Actual Cap Rate 6.42 Annual Expense Actual 5551 Buildings 1 Cfd Mello Roos Fee 1411.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 10.99 Gross Scheduled Income Actual 213840 Monthly Total Fees 117 Terms CashExchangeLand Contract Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 2495.0 Unit2 Rent Actual 2495.0 Unit3 Rent Actual 2495.0 Unit4 Rent Actual 2600.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.: 310-259-7556. Listing information © 2024 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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Steven G. Fraioli & Associates
13176 Midbluff Ave
San Diego CA, 92128