753 Cerritos Avenue, Long Beach, CA 90813
- $2,900,000
- List Price
- $2,900,000
- Status
- ACTIVE
- MLS#
- SB26159474
- Year Built
- 1987
- Lot Size
- 7,338
- Acres
- 0.17
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 7
- Property Type
- Multifamily
- Property Sub Type
- Apartment
Property Description
Pride of Ownership, 80's Construction - Current 6.57% CAP Rate and 10.42 GRM. Priced at only $290K/unit, 753 Cerritos Ave is the ideal opportunity for any investor looking for a well-maintained asset with strong cash flow. The property is comprised of (8) 2Bed+2Bath and (2) 1Bed+1Bath units. A handful of units have been renovated, including new floors, cabinets, appliances, bathrooms and fixtures. There is ample tuck-under parking and a laundry room on site. 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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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 10
- Gross Scheduled Income
- $278,424
- Operating Expense
- 79571
Listing courtesy of Listing Agent: Cameron Samimi (cameron@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.