1720 Cerritos Avenue
Description
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. Each unit has its own washer and dryer, dishwashers,
new floors, kitchen and fixtures. All demanding...Current 6.62% cap rate and 10.69 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. Each unit has its own washer and dryer, dishwashers,
new floors, kitchen and fixtures. All demanding higher
rents for the area. This property is massive with each
unit averaging over 800 sqft. The property also has
new copper plumbing, new roof and new electrical sub
panels in each unit - all of which were updated in the
last 5 years. T he 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.
- Listed by Cameron Samimi • DRE #02035763 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-259-7556
Property Details for 1720 Cerritos Avenue
Property Details for 1720 Cerritos Avenue
| Status | Active |
|---|---|
| MLS # | SB24222399 |
| Days on Market | 19 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1963 |
| County | Los Angeles County |
Building Information for 1720 Cerritos Avenue
Property Information for 1720 Cerritos Avenue
- Gross Income: $205,716
- Gross Scheduled Income: $205,716
- Vacancy Allowance Rate: 3
- Net Operating Income: $145,565
- Gross Multiplier: 10.69
- Cap Rate: 6.62
- Operating Expense: $53,980
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $0
- Professional Management Expense: $0
- Trash Expense: $0
- Water Sewer Expense: $0
- Total Expenses: $53,980
- Tax Tract Number: 2753
- Tax Census Tract: 5752.01
- CFD/Mello-Roos Fee: $1,411
- Tax Lot: 4
- Community Features: Urban
- Laundry: Yes
- Laundry Features: Gas Dryer Hookup, Washer Hookup
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: 0-1 Unit/Acre
- Number Of Units: 7
- Land Lease: No
- Land Lease Type: Fee
- Levels: One
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,366
- Unit Type Total Rent: $2,366
- Unit Type Pro Forma: 2400
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,395
- Unit Type Total Rent: $2,395
- Unit Type Pro Forma: 2400
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,350
- Unit Type Total Rent: $2,350
- Unit Type Pro Forma: 2400
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 2
- Unit Type Actual Rent: $2,700
- Unit Type Total Rent: $2,700
- Unit Type Pro Forma: 3000
- Unit Type Type: 4
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,350
- Unit Type Total Rent: $2,350
- Unit Type Pro Forma: 2400
- Unit Type Type: 5
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,366
- Unit Type Total Rent: $2,366
- Unit Type Pro Forma: 2400
- Unit Type Type: 6
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $2,366
- Unit Type Total Rent: $2,366
- Unit Type Pro Forma: 2400
- Unit Type Type: 7
- Rent Controlled: Yes
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 7
- Number Of Separate Gas Meters: 7
- Number Of Separate Water Meters: 1
Property History for 1720 Cerritos Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1720 Cerritos Avenue
Schools near 1720 Cerritos Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Whittier Elementary School PublicK to 5 | ||
Franklin Classical Middle School Public6 to 8 | ||
Polytechnic High School Public9 to 12 | ||
Clear Passage Educational Center Charter9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.