728 Cerritos AVE Long Beach, CA 90813
Active
$3,300,000
27%
19 Units
3 Beds
3 Baths
11,750 Area(sq.ft.)
12,614 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 5 | studio | 1 | No | $ 1,327 | $ 6,335 | $ 7,475 |
| Unit 2 | 12 | 1 | 1 | No | $ 1,417 | $ 17,005 | $ 22,740 |
| Unit 3 | 2 | 2 | 1 | No | $ 1,648 | $ 3,295 | $ 4,390 |
| 3 | 19 | 16 | 19 | $ 26,935 | $ 242,325 | $ 319,035 |
| MLS #: | PW24076719MR |
| Days On Market: | 240 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 281 |
| Price per unit: | $ 173,684 |
| Year Built: | 1924 |
Property Details
We are pleased to present a 19+1 unit apartment building located at 728 Cerritos Avenue in Long Beach, California. This is a value-add opportunity in a great location. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists of two parcels that total 11,750 rentable square feet spread throughout a 12,614 square foot lot. One property was built in 1924 and the other was built in 1952. The properties consist of 5 studios, 12 one bed/one bath units and 2 two bedroom / one bath units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 9 garages which generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 123,467 |
| Net Operating Income: | $ 202,373 |
Structure
| Community Features: | Curbs, Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR2N |
| Land Lease Type: | Fee |
Interior
| Laundry: | None |
Exterior
| Pool: | No |
Detailed Map
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Income
