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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$2,825,000

Est. payment - /mo

7,339 Sqft Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26056907

HOA Y/N No

Year Built 1987

Lot Size 7,339 Sqft

Property Sub-Type Apartment

Property Description

HIGHEST CAP RATE & LOWEST PRICE PER DOOR 1980s-CONSTRUCTION APARTMENT BUILDING IN LONG BEACH

Pride of Ownership 1980s Construction asset offering a current 6.63% CAP Rate and 10.51 GRM. Priced at only $283,000 per unit, 751 Cerritos Ave stands out as the lowest price-per-door opportunity among comparable 1980s-built apartment buildings in Long Beach, making it an exceptional opportunity for investors seeking strong cash flow, quality construction, and long-term upside.

The property is comprised of (8) 2Bed+2Bath and (2) 1Bed+1Bath units - one 2Bed+2Bath unit is currently vacant. 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.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry None

Exterior

Parking Features One Space

Pool None

Community Features Urban

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 7266004043

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc. #02035763

NEARBY SCHOOL & BUSINESS

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751 Cerritos Long Beach, CA 90813