Samimi CRE Advisors
    Listings/751 Cerritos Ave
    751 Cerritos Ave - Photo 1
    multifamilyActive Listing

    751 Cerritos Ave

    Long Beach, CA 90813

    Valuation

    $2,825,000

    Key Specifications

    Total Units

    10

    multifamily

    Year Built

    1987

    Value-Add Era

    Interior

    6,938 SF

    $407 / SF

    Lot Area

    7,338 SF

    Unit Mix

    multifamily

    8x 2-Bed/2-Bath, 2x 1-Bed/1-Bath

    Investment Highlights

    Current 6.63% Cap Rate & 10.51 GRM – 80's construction
    Priced at only $283k/unit
    (8) 2Bed+2Bath and (2) 1Bed+1Bath units-One unit is currently vacant
    Perfect opportunity for exchange buyer looking for very low maintenance and high cash-flow
    Ample tuck-under parking and a laundry room on site
    Located just outside 6 Billion dollars worth of development flooding into Downtown Long Beach

    Property Overview

    751 Cerritos Ave in Long Beach, CA, presents an ideal investment opportunity for those seeking a well-maintained asset with strong cash flow. This 1980s construction boasts a current 6.63% CAP Rate and 10.51 GRM, priced attractively at only $283,000 per unit. The property features a desirable unit mix of eight 2-bedroom, 2-bathroom units and two 1-bedroom, 1-bathroom units, with one 2-bedroom unit currently vacant, offering immediate upside potential. The property has seen recent renovations in a handful of units, including new floors, cabinets, appliances, bathrooms, and fixtures, enhancing its appeal and reducing future capital expenditures. On-site amenities such as ample tuck-under parking and a laundry room add to tenant convenience and property value. This asset is perfect for an exchange buyer looking for a low-maintenance property with high cash flow. Strategically located, 751 Cerritos Ave benefits from its proximity to over $6 billion in ongoing and planned developments in Downtown Long Beach. This includes major projects like the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, and Queen Mary Island, all contributing to the area's growth and increasing property values.