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1720 Cerritos Ave 7 Unit Apartment Building $2,100,000 ($300,000/Unit) 6.67% Cap Rate Long Beach, CA 90813
Investment Highlights
- All Units have been completely remodeled, featuring new Dishwashers, Wash/Dryer Hookups, and Windows
- (6) 2-Bed + 1-Bath Units and (1) 3-Bed + 1.5-Bath
- Copper Plumbing throughout the building, new Electrical, and a 3- year-old Roof (All done within the last 5 years)
- Perfect opportunity for an Exchange Buyer looking for very Low Maintenance and High Cash-Flow
Executive Summary
Current 6.67% cap rate and 10.50 GRM! Meticulously remodeled with high-end finishes. Come see this beautiful 7-unit building with the best unit mix you can ask for. 1720 Cerritos is comprised of (6) 2-Bed/1-Bath and (1) 3-Bed/1.5-Bath units. 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.
1720 Cerritos Ave 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.
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.
1720 Cerritos Ave 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.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
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 | 6.67% | Building Size | 6,074 SF |
| Gross Rent Multiplier | 10.5 | 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 | 6.67% |
| Gross Rent Multiplier | 10.5 |
| 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 | $2,307 | 987 |
| 3+2 | 1 | $2,700 | 1,275 |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 7268-027-025 | Total Assessment | $1,407,161 |
| Land Assessment | $541,216 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $865,945 | Tax Year | 2025 |
Property Taxes
Parcel Number
7268-027-025
Land Assessment
$541,216
Improvements Assessment
$865,945
Total Assessment
$1,407,161
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1720 Cerritos Ave
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