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Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
$2,825,000
Est. payment /mo
6,938 SqFt
Price Dropped by $25K
751 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 $407
MLS Listing ID SB-26056907
Year Built 1987
Lot Size 7,338 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
HIGHEST CAP RATE & LOWEST PRICE PER DOOR 1980s-CONSTRUCTION APARTMENT BUILDING IN LONG BEACH
Pride of Ownership 1980s Construction asset offering a current 6.63% CAP Rate and 10.51 GRM. Priced at only $283,000 per unit, 751 Cerritos Ave stands out as the lowest price-per-door opportunity among comparable 1980s-built apartment buildings in Long Beach, making it an exceptional opportunity for investors seeking strong cash flow, quality construction, and long-term upside.
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.
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.
Pride of Ownership 1980s Construction asset offering a current 6.63% CAP Rate and 10.51 GRM. Priced at only $283,000 per unit, 751 Cerritos Ave stands out as the lowest price-per-door opportunity among comparable 1980s-built apartment buildings in Long Beach, making it an exceptional opportunity for investors seeking strong cash flow, quality construction, and long-term upside.
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.
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.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry None
Exterior
Parking Features Parking Space
Pool None
Community Features Urban
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
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