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Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
$2,990,000
Est. payment /mo
6,938 SqFt
Price Dropped by $10K
753 Cerritos Long Beach, CA 90813
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Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 6,938 sqft
Price per Sqft $430
MLS Listing ID SB-25049974
Year Built 1987
Lot Size 7,338 Sqft
Property Sub-Type Apartment
Property Description
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.
Location
State CA
County Los Angeles
Interior
Laundry Community
Exterior
Parking Features Carport
Pool None
Community Features Urban
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer