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… Read More 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. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Cameron Samimi 310-259-7556
Listing Snapshot
Days Online
56
Last Updated
Property Type
Apartment
Lot Size
0.12 Acres
Year Built
1963
MLS Number
SB25025508
30 Days Snapshot Of 90813
$480k
-17%
(avg) sold price
3
-57%
homes sold
73
-52%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1963, Building area total: 6,074, Levels: One, 1 story, 1 building, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Urban
Expenses
Operating expense: $54,585
Income
Gross income: $205,716, Net operating income: $144,960
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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