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1720 Cerritos Ave 7 Unit Apartment Building £1,564,101 (£223,443/Unit) 7% Net Initial Yield Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- All Units have been completely remodeled featuring Dishwashers, Wash/Dryer Hookups and Windows
- Perfect opportunity for exchange buyer looking for very low maintenance and high cash-flow
- Copper plumbing throughout building, new electrical and 3 year old roof
EXECUTIVE SUMMARY
Current7.00% Cap Rate and 10.20 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.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£153,219
|
£25.23
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£4,596
|
£0.76
|
| Effective Gross Income |
£148,623
|
£24.47
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£40,655
|
£6.69
|
| Net Operating Income |
£107,968
|
£17.78
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £153,219 |
| Annual Per sq ft | £25.23 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | £4,596 |
| Annual Per sq ft | £0.76 |
| Effective Gross Income | |
|---|---|
| Annual | £148,623 |
| Annual Per sq ft | £24.47 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Total Expenses | |
|---|---|
| Annual | £40,655 |
| Annual Per sq ft | £6.69 |
| Net Operating Income | |
|---|---|
| Annual | £107,968 |
| Annual Per sq ft | £17.78 |
PROPERTY FACTS
| Price | £1,564,101 | Apartment Style | Low-Rise |
| Price Per Unit | £223,443 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.12 ac |
| Yield | 7% | Property Size | 6,074 sq ft |
| Gross Rent Multiplier | 10.2 | Average Occupancy | 100% |
| No. Units | 7 | No. Floors | 2 |
| Property Type | Build-to-Rent | Year Built | 1963 |
| Property Subtype | Apartment | Parking Allocation | 0.98/1,000 sq ft |
| Use Class | LBR3S - Limited Density Multiple Residence | ||
| Price | £1,564,101 |
| Price Per Unit | £223,443 |
| Sale Type | Investment |
| Yield | 7% |
| Gross Rent Multiplier | 10.2 |
| No. Units | 7 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.12 ac |
| Property Size | 6,074 sq ft |
| Average Occupancy | 100% |
| No. Floors | 2 |
| Year Built | 1963 |
| Parking Allocation | 0.98/1,000 sq ft |
| Use Class | LBR3S - Limited Density Multiple Residence |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer Hookup
- Ceiling Fans
- Wooden Floors
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 2+1 | 6 | £1,769 | 987 |
| 3+1.5 | 1 | £2,123 | 1,275 |
1 1
Walk Score®
Excellent pedestrian access (91)
Bike Score®
Good for cycling (73)
PROPERTY TAXES
| Parcel Number | 7268-027-025 | Improvements Assessment | £647,753 (2025) |
| Land Assessment | £404,846 (2025) | Total Assessment | £1,052,599 (2025) |
PROPERTY TAXES
Parcel Number
7268-027-025
Land Assessment
£404,846 (2025)
Improvements Assessment
£647,753 (2025)
Total Assessment
£1,052,599 (2025)
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1720 Cerritos Ave
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