Current 7.00% Cap Rate and 10.20 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.
For sale
Listing Provided by:
Cameron Samimi DRE #02035763 310-259-7556,
Lyon Stahl Investment Real Estate, Inc.
Price cut: $90K (5/29)
$2,100,000
1720 Cerritos Ave APT 1, Long Beach, CA 90813
15beds
8baths
6,074sqft
Est.:
Multi Family
Built in 1963
-- sqft lot
$1,937,400 Zestimate®
$346/sqft
$-- HOA
What's special
New roofNew floorsHigh-end finishes
- 180 days
- on Zillow |
- 94 |
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