753 Cerritos Ave
Valuation
$2,900,000
Valuation
$2,900,000
Key Specifications
Total Units
10
multifamily
Year Built
1987
Value-Add Era
Interior
9,600 SF
$302 / SF
Lot Area
7,338 SF
Investment Highlights
Property Overview
Pride of Ownership, 80’s Construction – Current 6.57% CAP Rate and 10.42 GRM. Priced at only $290K/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 (2) 1Bed+1Bath units. 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. The 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.
Interested in this property?
Request the complete offering memorandum with financials and private property details.