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(310)918-5027
Real Estate Company
728 Cerritos Avenue, Long Beach, CA 90813
- $2,350,000
- Sold Price
- $2,350,000
- List Price
- $3,300,000
- Closing Date
- Mar 13, 2025
- Status
- CLOSED
- MLS#
- PW24076719
- Year Built
- 1924
- Lot Size
- 12,614
- Acres
- 0.29
- Lot Location
- 16-20 Units/Acre
- Days on Market
- 313
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
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.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 9
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 19
- Gross Scheduled Income
- $314,268
- Operating Expense
- 123467
Listing courtesy of Listing Agent: Kevin King (kking@marcusmillichap.com) from Listing Office: Marcus & Millichap.
Listing sold by General NONMEMBER from NONMEMBER MRML
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.