Long Beach, CA 90813 753 Cerritos
$3,000,000
27 more
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
Beds • 18
Baths • 18
SQFT • 6,938
Year Built • 1987
Home Details
Pride of Ownership, 80's Construction - Current
5.86% CAP Rate and 11.62 GRM. Priced at only
$300k/unit, 753 Cerritos Ave is the ideal opportunity
for any investor looking for a well-maintained asset
with strong cash flow.
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.
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.
Presented By: Cameron Samimi with Lyon Stahl Investment Real Estate, Inc.; 310-259-7556
Interior Features for 753 Cerritos
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories3
Other Rooms
Entry Level1
General for 753 Cerritos
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.86
Carport Y/NYes
CityLong Beach
Community FeaturesUrban
CountyLos Angeles
DirectionsOff of Alamitos Ave and E 7th St
Electric Expense0.0
Electric On Property Y/NNo
Entry Location1
Expected Active Date 2025-03-11
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income258228.0
HOANo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashToNewLoan, Conventional, Exchange1031
Lot Size Square Feet7338.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MobileHomeRemainsYNNo
Net Operating Income173192.0
New ConstructionNo
Number Of Units Total10
Number of Units Leased9
Operating Expense77289.0
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
Tax Lot1234
Total Actual Rent21444.0
Trash Expense0.0
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1987
Year Built SourceAssessor
Exterior for 753 Cerritos
Building Area Total6938.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1685
Lot Size Area7338.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters10
Number of Separate Gas Meters10
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesCarport
Private PoolNo
SpaNo
Total Parking14.0
Water SourcePublic
Additional Details
Price History
Alexandra Eston
Sales Associate
Price
$3,000,000
MLS#SB25049974
List Date
03/06/2025
Property Type
Multi-Family
Phone
(562) 537-4182
