728 Cerritos Avenue
Long Beach, CA 90813
- – beds
- – baths
- – sqft
- 12,614 sqft lot
- 1924 build
- – on site
We are pleased to present a 19+1 unit apartment building located at 728 Cerritos Avenue in Long Beach, California. This is a value-add opportunity in a great location. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists of two parcels that total 11,750 rentable square feet spread throughout a 12,614 square foot lot. One property was built in 1924 and the other was built in 1952. The properties consist of 7 studios, 11 one bed/one bath units and 2 two bedroom / one bath units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 9 garages which generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. There has been over $2B invested in real estate transactions and new development projects since 2013. There are 3,997 residential units in the development pipeline. Notable completed projects near the subject property include the Shoreline Gateway at 777 E. Ocean Blvd. which is 35 stories high with 315 residential units and 6,700 sq. ft. of restaurant and retail space, the Ocean View Tower at 200 W. Ocean Blvd has 142 units with 4,100 sq. ft. of commercial space, and Volta on Pine at 635 Pine Ave. has 271 units with 1,302 sq. ft. of retail and commercial space. Currently under construction is the renovation at the Breakers Hotel at 210 E. Ocean Blvd, Broadway Block at 330 & 333 E. Broadway which is 432 units and over 17,793 sq. ft. of retail space, Aster at 250 E. Broadway with 218 units and 7,300 sq. ft. of commercial space, as well as the Broadstone Promenade which is 189 units with ground floor retail space as well. The Long Beach port has been undergoing $4.4 billion in redevelopment that will create 14,000 new and permanent jobs in Southern California.
Last checked:
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Last updated Sep 27, 2024
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MLS# PW24076719 —
The Building
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Year Built:1924
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Year Built Source:Assessor
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New Construction:No
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Entry Level:1
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Common Walls:2+ Common Walls
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Building Area Total:11750.00
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Building Area Units:Square Feet
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# of Buildings:2
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Total Number Of Units:19
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Stories Total:2
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# of Separate Gas Meters:21
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# of Separate Water Meters:1
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# of Separate Electric Meters:21
Interior
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Levels:Two
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Entry Location:front
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Laundry:None
Location
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Directions:Cerritos Ave & 7th St
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Latitude:33.77590100
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Longitude:-118.17762900
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:LBR2N
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Lot Features:16-20 Units/Acre
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Lot Size Area:12614.0000
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Lot Size Acres:0.2896
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Lot Size SqFt:12614.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Additional Parcels Description:7266-003-016
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:5764.01
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Tax Tract:576401
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Tax Lot:15
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7266003017
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Senior Community:No
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Features:Curbs, Sidewalks
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Pool:None
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Private Pool:No
Parking
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Parking Spaces:9.00
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Garage Spaces:9.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
8/12/24
Aug 12, 2024
|
Price Changed | CRMLS_CA | $3,800,000 | -9.5% |
|
5/24/24
May 24, 2024
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Price Changed | CRMLS_CA | $4,200,000 | -6.7% |
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4/17/24
Apr 17, 2024
|
Listed / Active | CRMLS_CA | $4,500,000 |
