285 Cerritos Avenue, Long Beach, CA, US, 90802
285 Cerritos Avenue, Long Beach, CA, US, 90802Basics
- Date added: Added 15時間 ago
- Category: ResidentialIncome
- Type: Apartment
- Status: Active
- Floors: 2, 2
- Lot size: 8546, 8546 sq ft
- Year built: 1921
- Subdivision Name: Alamitos Beach (AB)
- Zoning: LBR3S
- County: Los Angeles
- MLS ID: SB25096484
Description
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Description:
6.2% cap rate on actuals only 3 blocks to the beach! 10.6X GRM on actuals with a 9% upside to 9.7X GRM on market rents and 6.9% market cap rate.
Totally remodeled 8 unit (7+1 ADU) property consisting of two buildings with 4 units each and parking for 5 cars. Corner building consists of four large 900 square foot units with 2 bedroom floor plans upstairs and large 1 bedroom floor plans on ground level. Second building has a brand new 2025 construction 2 bed/1 bath ADU, two studios, and a large 1 bed/1 bath unit. All unit interiors remodeled since 2022, new electrical in 285 building, full paint and exterior refresh just completed. Great curb appeal on a large 8,546 square foot corner lot.
Ideal location in the heart of Alamitos Beach only 3 blocks to the sand. 2 blocks from Downtown Long Beach’s East Village Arts District with numerous restaurants, retail, and entertainment options. Over $8 Billion in new development in the immediate vicinity. 63% of households within 5 miles are renters with an average households income of $98,000+ (per CoStar research). Directly across the street from the Historic Ebell Club of Long Beach.
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Location
- Directions: North of Ocean, East of Alamitos
- Lot Size Acres: 0.1962 acres
Building Details
- Water Source: Public
- Lot Features: RectangularLot
- Open Parking Spaces: 5
- Sewer: PublicSewer
- Building Area Units: SquareFeet
- Common Walls: TwoCommonWallsOrMore
- Garage Spaces: 0
- Levels: Two
- Number Of Buildings: 2
- Floor covering: Laminate
Amenities & Features
- Pool Features: None
- Parking Features: DrivewayLevel
- Parking Total: 5
- Utilities: ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected
- Cooling: HeatPump
- Electric: Standard,Volts220
- Fireplace Features: None
- Heating: WallFurnace
- Laundry Features: Inside
- Appliances: GasOven,GasRange
Expenses, Fees & Taxes
- Trash Expense: $589
- New Taxes Expense: $24,938
- Pest Control Expense: $175
- Association Fee: 0
- Maintenance Expense: $6,105
- Electric Expense: $589
- Fuel Expense: $589
- Insurance Expense: $10,668
- Licenses Expense: $1,492
- Water Sewer Expense: $590
Miscellaneous
- List Office Name: Buckingham Investments, Inc
- Listing Terms: CashToNewLoan
- Common Interest: None
- Community Features: Urban
- Attribution Contact: 310-561-4776