$2,825,000/mo

751 Cerritos, Long Beach, CA 90813

6,938 sqft

Rent shown is base rent as provided by the property owner or manager. Additional mandatory fees, deposits, or utilities may apply and are set by the property owner or manager.

Rental
Built in 1987
7,340sqft lot
—— car garage
$407/sqft
Listed 3 months ago

Property Description

HIGHEST CAP RATE & LOWEST PRICE PER DOOR 1980s-CONSTRUCTION APARTMENT BUILDING IN LONG BEACH Pride of Ownership 1980s Construction asset offering a current 6.88% CAP Rate and 10.17 GRM. Priced at only $283,000 per unit, 751 Cerritos Ave stands out as the lowest price-per-door opportunity among comparable 1980s-built apartment buildings in Long Beach, making it an exceptional opportunity for investors seeking strong cash flow, quality construction, and long-term upside. 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.