CA > Long Beach
Long Beach, CA 90813,1720 Cerritos AVE
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James Olvera

James Olvera

The Warburton Team

+1(909) 760-9091
$ 2,100,000
Est. payment | /mo

5,196 Sqft Lot

Save
$ 2,100,000
Est. payment | /mo
Save

5,196 Sqft Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25193240

HOA Y/N No

Year Built 1963

Lot Size 5,196 Sqft

Property Sub-Type Apartment

Property Description

Current 6.93% Cap Rate and 10.20 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.
The 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.

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

CRMLS – RECore
Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc.

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