Pride of Ownership, 80's Construction - Current 5.86% CAP Rate and 11.62 GRM. Priced at only $300k/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… Read More (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. 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. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Cameron Samimi 310-259-7556
Listing Snapshot
Days Online
26
Last Updated
Property Type
Apartment
Lot Size
0.17 Acres
Year Built
1987
MLS Number
SB25049974
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 1987, Building area total: 6,938, 1 building, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Urban
Expenses
Operating expense: $77,289
Income
Gross income: $258,228, Net operating income: $173,192
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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