285-295 Cerritos Avenue is a 7-unit investment asset well-located in the highly desirable Alamitos Beach neighborhood of Long Beach, just a short walk to the beach and Bluff Park, and in close proximity to East Village Arts District and 4th Street/Retro Row. The property is comprised of sizable units with a favorable mix of (4) 1 BD+1BA+Den; (1) Studio+Den and (2) Studios. This 1920's property features vintage hardwood floors with period built-ins and detailing. Onsite laundry and garages provide additional income. Off-street surface parking is available for up to six cars. The property is in close proximity to the hip boutiques, restaurants and bars along Fourth Street/Retro Row and along the Broadway Corridor. The neighborhood is also adjacent to East Village Arts District, Downtown Long Beach and a myriad of employment opportunities. According to Niche.com, Alamitos Beach ranks as the number three of 47 Best Neighborhoods for Young Professionals. Rents in this submarket are 19% higher than other Long Beach submarkets, on average and vacancy rates are historically low. 285-295 Cerritos Avenue has 23% upside potential in income and six of the seven units are on month-to-month terms.
DAYS ON MARKET
|
110
|
LAST UPDATED
|
1/6/2022
|
TRACT
|
Alamitos Beach (AB)
|
YEAR BUILT
|
1921
|
COMMUNITY
|
Downtown Area, Alamitos Beach
|
COUNTY
|
Los Angeles
|
STATUS
|
Sold
|
PROPERTY TYPE(S)
|
Residential Income
|
Prior to Oct 6, '21
|
$1,950,000
|
Oct 6, '21 - Oct 22, '21 |
$1,895,000
|
Oct 22, '21 - Dec 3, '21 |
$1,845,000
|
Dec 3, '21 - Today |
$1,795,000 |
AREA |
Downtown Area, Alamitos Beach |
GARAGE |
Asphalt, Driveway |
LOT |
8544 sq ft |
LOT DESCRIPTION |
6-10 Units/Acre |
PARKING |
Asphalt,Driveway |
POOL DESCRIPTION |
None |
SEWER |
Public Sewer |
STORIES |
2 |
SUBDIVISION |
Alamitos Beach (AB) |
WATER |
Public |
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Listed with Keller Williams - Santa Monica
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 3/28/24 6:21 AM PDT 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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