Current 6.62% cap rate and 10.69 GRM! Meticulouslyremodeled with high-end finishes. Come see thisbeautiful 7 unit building with best unit mix you can askfor. 1720 Cerritos is comprised of (6) 2Bed+1Bath and(1) 3Bed+1.5Bath units. Two units are currently vacantand there is an opportunity to add significant value bybuilding out (2) Studio+1Bath ADUs. Adding the ADUswould generate an extra $3,500/month.Each unit has its own washer and dryer, dishwashers,new floors, kitchen and fixtures. All demanding higherrents for the area. This property is massive with eachunit averaging over 800 sqft. The property also hasnew copper plumbing, new roof and new electrical subpanels in each unit - all of which were updated in thelast 5 years.T he subject property is located just outside 6 Billiondollars worth of development flooding into DowntownLong Beach, including the Long Beach Civic Center,Long Beach Aquarium, OceanAire Project, CSULBDowntown Village, Broadway Block and Queen MaryIsland.
|
DAYS ON MARKET
|
23
|
LAST UPDATED
|
10/29/2024
|
|
YEAR BUILT
|
1963
|
COMMUNITY
|
Wrigley Area
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AREA |
Wrigley Area |
| LOT |
5194 sq ft |
| LOT DESCRIPTION |
0-1 Unit/Acre |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| WATER |
Public |
| ZONING |
LBR3S |
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Listed with Lyon Stahl Investment Real Estate, Inc.
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 11/21/24 9:43 AM 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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