Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

10

Building size

9,600 sqft

Lot size

7,338 sqft

Year built

1987

Stories

3

Garage spaces

0

Pool

None

Status

Active

Days on market

0

MLS #

245067848

About this property

Pride of Ownership, 80's Construction - Current 6.57% CAP Rate and 10.42 GRM. Priced at only $290K/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. 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

753 Cerritos Avenue

Long Beach, Los Angeles, CA, 90813