$ 3,800,000
728 Cerritos Avenue Long Beach, CA 90813
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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Listed by Kevin King • Marcus & Millichap
$ 3,800,000
Est. payment /mo
Active
728 Cerritos Avenue Long Beach, CA 90813
11,750 SqFt
UPDATED:
09/28/2024 04:38 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,750 sqft
Price per Sqft $323
MLS Listing ID CRPW24076719
HOA Y/N No
Originating Board Datashare California Regional
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 7 studios, 11 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. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. There has been over $2B invested in real estate transactions and new development projects since 2013. There are 3,997 residential units in the develop
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry No Hookups
Building
Water Public
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