751 Cerritos Avenue

Long Beach, CA 90813

$2,349,000

Sold Price
18

bed Beds

18

shower Baths

6,938 sqft

straighten / sqft

1987

calendar_month Built

Property Description

PRICED TO SELL. 9X GRM and a 6.5% CAP on actual rents with upside to a 7.1% CAP. 10 units in Alamitos Beach in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Built in 1987, the property is professionally managed and well maintained. There are 14 onsite parking spaces - 1 for each unit plus 4 for rent. The 2nd floor units feature tall, vaulted ceilings and some have partial ocean views. The Property has an onsite laundry room. All units were updated from 2017-2019. The subpanels are 50 AMPS and the main panel is 200 AMPS. Plumbing is copper - Buyer to verify. Priced at only $340/SF. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND ACTUAL EXPENSES.

Listing Information

Close Price $2,349,000
Close Date Friday, August 16th, 2024
Status Closed
MLS 24391473
Type Residential Income
Year Built 1987
Lot Size 7,338
Structure Size 6,938
DOM 23
Courtesy Of The Agency
Listing Agent Jonathan Swire DRE#01336277

Interior Features

Total Bedroom
Bedrooms 18
Total Bathroom
Bathrooms 18
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Jonathan Swire, The Agency . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 16th, 2024 at 7:02 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.