Long Beach, CA 90813 1720 Cerritos Avenue 1
$2,199,000
14 more
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
Beds • 15
Full/Half Baths • 7 / 1
SQFT • 6,074
Year Built • 1963
Home Details
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. OM in supplements.
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
Interior Features for 1720 Cerritos Avenue 1
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesInside
Total Stories2
Other Rooms
Entry Level1
General for 1720 Cerritos Avenue 1
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.44
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
CountyLos Angeles
DirectionsOff Alamitos and PCH
Electric Expense0.0
Electric On Property Y/NNo
Entry Location1
Expected Active Date 2025-02-05
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income205716.0
HOANo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Listing TermsCash, CashToNewLoan, Conventional, Exchange1031
Lot Size Square Feet5198.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MobileHomeRemainsYNNo
Net Operating Income144960.0
New ConstructionNo
Number Of Units Total7
Operating Expense54585.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
Tax Lot4
Trash Expense0.0
Unit Number1
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1963
Year Built SourceAssessor
ZoningLBR3S
Exterior for 1720 Cerritos Avenue 1
Building Area Total6074.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1193
Lot Size Area5198.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters7
Number of Separate Gas Meters7
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Justin Hughey
Price
$2,199,000
MLS#SB25025508
List Date
02/04/2025
Property Type
Multi-Family
Phone
(562) 818-1655
