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Additional details
Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
$2,250,000
Est. payment /mo
6,074 SqFt
UPDATED:
02/05/2025 07:04 PM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,074 sqft
Price per Sqft $370
MLS Listing ID SB-25025508
Year Built 1963
Lot Size 5,198 Sqft
Property Description
Current 6.44% cap rate and 10.94 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
Zoning LBR3S
Interior
Laundry Inside
Exterior
Parking Features Gated
Pool None
Community Features Urban
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
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