728 Cerritos Avenue

Long Beach, CA 90813

PRICE REDUCED

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-$1,200,000 (-26.67%)

$3,300,000

List Price

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1924

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Property Description

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.

Listing Information

List Price $3,300,000
Status Active
MLS PW24076719
Type Residential Income
Subtype Apartment
Year Built 1924
Lot Size 12,614
Structure Size N/A
DOM 240
Courtesy Of Marcus & Millichap
Listing Agent Kevin King DRE#01158184

Interior Features

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Location(s) None
Total Bedroom
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Exterior Information

Maps

Listing information courtesy of: Kevin King, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Dec 21st, 2024 at 12:08 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.