Homes for sale - 1720 Cerritos AVE, Long Beach, CA 90813

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JLee Broker

[email protected] +1(650) 857-1000

Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.

$2,189,999

Est. payment - /mo

5,198 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRSB25025508

Year Built 1963

Lot Size 5,198 Sqft

Source California Regional MLS

Property Description

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.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Interior

Laundry Other

Exterior

Pool None

Building

Story One Story

Water District - Public

Others

Tax ID 7268027025

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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1720 Cerritos AVE Long Beach, CA 90813

JLee Broker

Key Details

Location

Interior

Exterior

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