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
    : 
    Multi Family
    Built in 1963
    -- sqft lot
    $1,937,400 Zestimate®
    $346/sqft
    $-- HOA

    What's special

    New roofNew floorsHigh-end finishes
    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.
    180 days
    on Zillow
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