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1720 Cerritos Avenue

Long Beach, CA 90813

– beds
– baths
– sqft
5,194 sqft lot
1963 build
– on site

Current 6.62% cap rate and 10.69 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.

Listed By CRMLS_CA / Cameron Samimi / Lyon Stahl Investment Real Estate, Inc. / 310-259-7556

Last checked: Checking… • Last updated Nov 4, 2024 •

MLS# SB24222399 —

The Building

Year Built:

1963
Year Built Source:

Assessor
New Construction:

No
Entry Level:

1
Common Walls:

2+ Common Walls
Building Area Total:

6074.00
Building Area Units:

Square Feet
# of Buildings:

1
Total Number Of Units:

7
Stories Total:

2
# of Separate Gas Meters:

7
# of Separate Water Meters:

1
# of Separate Electric Meters:

7

Interior

Levels:

One
Entry Location:

1
Laundry:

Gas Dryer Hookup, Washer Hookup
Laundry:

1

Location

Directions:

Off Alamitos and PCH
Latitude:

33.78853200
Longitude:

-118.17710500

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

LBR3S
Lot Features:

0-1 Unit/Acre
Lot Size Area:

5194.0000
Lot Size Acres:

0.1192
Lot Size SqFt:

5194.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

5752.01
Tax Tract:

2753
Tax Lot:

4

The Listing

Special Listing Conditions:

Standard
Parcel Number:

7268027025
Showings Begin:

2024-10-29

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Senior Community:

No
Features:

Urban
Pool:

None
Private Pool:

No

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
10/29/24 Oct 29, 2024	Listed / Active	CRMLS_CA	$2,200,000	69.2% (17.7% / YR)
9/5/24 Sep 5, 2024	Listed / Active	CRMLS_CA
1/10/23 Jan 10, 2023	Listed / Active	CRMLS_CA

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This multifamily located in Central Long Beach, Long Beach, CA 90813 is currently for sale for $2,200,000. 1720 Cerritos Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 6 days. 1720 Cerritos Avenue is in the Central Long Beach neighborhood of Long Beach and has a WalkScore® of 89, making it very walkable. This multifamily is in the attendance area of Franklin Classical Middle School, Whittier Elementary School, and Polytechnic High School.

Listing Courtesy of: CRMLS_CA and Lyon Stahl Investment Real Estate, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of 21:19 on Nov 04.

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.