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751 Cerritos Ave 10 Unit Apartment Building $2,950,000 ($295,000/Unit) 6.24% Cap Rate Long Beach, CA 90813
Investment Highlights
- Current 6.24% Cap Rate & 11.04 GRM - 80's construction
- (8) 2Bed+2Bath and (2) 1Bed+1Bath units-One unit is currently vacant
- Priced at only $295k/unit
- Perfect opportunity for exchange buyer looking for very low maintenance and high cash-flow
Executive Summary
Pride of Ownership, 80's Construction - Current 6.24% CAP Rate and 11.04 GRM. Priced at only $295k/unit, 751 Cerritos Ave is the ideal opportunity for any investor looking for a well-maintained asset with strong cash flow. The property is comprised of (8) 2Bed+2Bath and (2) 1Bed+1Bath units - one 2Bed+2Bath unit is currently vacant. A handful of units have been renovated, including new floors, cabinets, appliances, bathrooms and fixtures. There is ample tuck-under parking and a laundry room on site. The 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.
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 | $2,950,000 | Building Class | C |
| Price Per Unit | $295,000 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 6,938 SF |
| Cap Rate | 6.24% | Average Occupancy | 90% |
| Gross Rent Multiplier | 11.04 | No. Stories | 3 |
| No. Units | 10 | Year Built | 1987 |
| Property Type | Multifamily | Parking Ratio | 1.4/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R2N, Long Beach | ||
| Price | $2,950,000 |
| Price Per Unit | $295,000 |
| Sale Type | Investment |
| Cap Rate | 6.24% |
| Gross Rent Multiplier | 11.04 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,938 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built | 1987 |
| Parking Ratio | 1.4/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R2N, Long Beach |
Amenities
Unit Amenities
- Balcony
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,902 | - |
| 2+2 | 8 | $2,307 | - |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (87)
Property Taxes
| Parcel Number | 7266-004-043 | Total Assessment | $2,349,000 |
| Land Assessment | $1,600,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $749,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
7266-004-043
Land Assessment
$1,600,000
Improvements Assessment
$749,000
Total Assessment
$2,349,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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751 Cerritos Ave
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