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.
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DAYS ON MARKET
|
249
|
LAST UPDATED
|
11/22/2024
|
|
YEAR BUILT
|
1924
|
COMMUNITY
|
Not Defined
|
|
GARAGE SPACES
|
9.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
Prior to May 24, '24
|
$4,500,000
|
|
May 24, '24 - Aug 12, '24 |
$4,200,000
|
|
Aug 12, '24 - Nov 19, '24 |
$3,800,000
|
|
Nov 19, '24 - Nov 22, '24 |
$3,550,000
|
| Nov 22, '24 - Today |
$3,300,000 |
| AREA |
Not Defined |
| GARAGE |
Yes |
| LOT |
0.29 acre(s) |
| LOT DESCRIPTION |
16-20 Units/Acre |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| WATER |
Public |
| ZONING |
LBR2N |
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Listed with Marcus & Millichap
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 12/21/24 10:45 PM PST 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
This IDX solution is (c) Diverse Solutions 2024.
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