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$3,000,000
Est. payment /mo
7,339 Sqft Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25049974
HOA Y/N No
Year Built 1987
Lot Size 7,339 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.
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
Area 699 - Not Defined
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Carport
Pool None
Community Features Urban
Total Parking Spaces 14
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7266004043
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
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Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc. • 310-259-7556