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$ 3,300,000
Est. payment /mo
Price Dropped by $250K
728 Cerritos AVE Long Beach, CA 90813
0.29 Acres Lot
UPDATED:
11/22/2024 07:17 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW24076719
Originating Board California Regional MLS
Year Built 1924
Lot Size 0.290 Acres
Property Description
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.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Laundry None
Exterior
Garage Spaces 9.0
Pool None
Building
Water District - Public
Others
Tax ID 7266003017
Special Listing Condition Not Applicable
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Listed by Kevin King • Marcus & Millichap