1720 Cerritos Avenue Unit: 1

Current 6.62% cap rate and 10.69 GRM! Meticulously

remodeled with high-end finishes. Come see this

beautiful 7 unit building with best unit mix you can ask

for. 1720 Cerritos is comprised of (6) 2Bed+1Bath and

(1) 3Bed+1.5Bath units. Two units are currently vacant

and 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.

T he 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. OM in supplements.