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The Warburton Team Brokered By EXp

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

$2,100,000

Est. payment - /mo

5,196 Sqft Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Coming Soon

Purchase Type For Sale

MLS Listing ID SB26104879

HOA Y/N No

Year Built 1963

Lot Size 5,196 Sqft

Property Sub-Type Apartment

Property Description

Current 6.67% cap rate and 10.50 GRM! Meticulously remodeled with high-end finishes. Come see this beautiful 7-unit building with the best unit mix you can ask for. 1720 Cerritos is comprised of (6) 2-Bed/1-Bath and (1) 3-Bed/1.5-Bath units. 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.

1720 Cerritos Ave 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 699 - Not Defined

Zoning LBR3S

Interior

Fireplace No

Laundry Inside

Exterior

Pool None

Community Features Urban

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 7268027025

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

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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1720 Cerritos AVE Long Beach, CA 90813