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Current 6.44% cap rate and 10.94 GRM! Meticulouslyremodeled with high-end finishes. Come see thisbeautiful 7 unit building with best unit mix you can askfor. 1720 Cerritos is comprised of (6) 2Bed+1Bath and(1) 3Bed+1.5Bath units. Two units are currently vacantand there is an opportunity to add significant value bybuilding out (2) Studio+1Bath ADUs. Adding the ADUswould generate an extra $3,500/month.Each unit has its own washer and dryer, dishwashers,new floors, kitchen and fixtures. All demanding higherrents for the area. This property is massive with eachunit averaging over 800 sqft. The property also hasnew copper plumbing, new roof and new electrical subpanels in each unit - all of which were updated in thelast 5 years.T he subject property is located just outside 6 Billiondollars worth of development flooding into DowntownLong Beach, including the Long Beach Civic Center,Long Beach Aquarium, OceanAire Project, CSULBDowntown Village, Broadway Block and Queen MaryIsland. OM in supplements.
Last Updated | 2/5/2025 | Year Built | 1963 |
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Community | Not Defined | County | Los Angeles |
Additional Details
AREA | Not Defined |
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LOT | 5198 sq ft |
LOT DESCRIPTION | 0-1 Unit/Acre |
POOL DESCRIPTION | None |
SEWER | Public Sewer |
STORIES | 1 |
WATER | Public |
ZONING | LBR3S |
Location
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