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1720 Cerritos Ave 7 Unit Apartment Building $2,100,000 ($300,000/Unit) 7% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- All Units have been completely remodeled featuring Dishwashers, Wash/Dryer Hookups and Windows
- Perfect opportunity for exchange buyer looking for very low maintenance and high cash-flow
- Copper plumbing throughout building, new electrical and 3 year old roof
EXECUTIVE SUMMARY
Current7.00% Cap Rate and 10.20 GRM! Meticulously remodeled with high-end finishes. Come see this beautiful 7 unit building with best unit mix you can ask for. 1720 Cerritos is comprised of (6) 2Bed+1Bath and (1) 3Bed+1.5Bath units. Two units are currently vacant and there is an opportunity to add significant value by building out (2) Studio+1Bath ADUs. Adding the ADUs would generate an extra $3,500/month.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$205,716
|
$33.87
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,171
|
$1.02
|
| Effective Gross Income |
$199,545
|
$32.85
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$54,585
|
$8.99
|
| Net Operating Income |
$144,960
|
$23.87
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $205,716 |
| Annual Per SF | $33.87 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,171 |
| Annual Per SF | $1.02 |
| Effective Gross Income | |
|---|---|
| Annual | $199,545 |
| Annual Per SF | $32.85 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $54,585 |
| Annual Per SF | $8.99 |
| Net Operating Income | |
|---|---|
| Annual | $144,960 |
| Annual Per SF | $23.87 |
PROPERTY FACTS
| Price | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $300,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 7% | Building Size | 6,074 SF |
| Gross Rent Multiplier | 10.2 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 0.98/1,000 SF |
| Zoning | LBR3S - Limited Density Multiple Residence | ||
| Price | $2,100,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 10.2 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 6,074 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.98/1,000 SF |
| Zoning | LBR3S - Limited Density Multiple Residence |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer Hookup
- Ceiling Fans
- Hardwood Floors
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | $2,375 | 987 |
| 3+1.5 | 1 | $2,850 | 1,275 |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 7268-027-025 | Improvements Assessment | $865,945 (2025) |
| Land Assessment | $541,216 (2025) | Total Assessment | $1,407,161 (2025) |
PROPERTY TAXES
Parcel Number
7268-027-025
Land Assessment
$541,216 (2025)
Improvements Assessment
$865,945 (2025)
Total Assessment
$1,407,161 (2025)
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1720 Cerritos Ave
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