753 Cerritos Ave, Long Beach, CA for sale

Investment Overview

Pride of Ownership, 80's Construction - Current 6.24% CAP Rate and 11.04 GRM. Priced at only $295k/unit, 753 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.

Investment Highlights

• Current 6.24% Cap Rate & 11.04 GRM - 80's construction
• Priced at only $295k/unit
• (8) 2Bed+2Bath and (2) 1Bed+1Bath units-One unit is currently vacant
• Perfect opportunity for exchange buyer looking for very low maintenance and high cash-flow