Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    728 Cerritos Avenue, Long Beach, CA 90813
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    • MLS#: PW24076719 ( Apartment )
    • Street Address: 728 Cerritos Avenue
    • Viewed: 8
    • Price: $3,300,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1924
    • Bldg sqft: 0
    • Days On Market: 255
    • Additional Information
    • County: LOS ANGELES
    • City: Long Beach
    • Zipcode: 90813
    • Provided by: Marcus & Millichap
    • Contact: Kevin Kevin
    • California Regional MLS IDX
    • DMCA Notice
    • Description
      We are pleased to present a 19+1 unit apartment building located at 728 Cerritos Avenue in Long Beach, California. This is a value add opportunity in a great location. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists of two parcels that total 11,750 rentable square feet spread throughout a 12,614 square foot lot. One property was built in 1924 and the other was built in 1952. The properties consist of 5 studios, 12 one bed/one bath units and 2 two bedroom / one bath units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 9 garages which generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores.
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    Features
    Additional Parcels Description
    1. 7266-003-016
    Building Area Total
    1. 11750.00
    Commoninterest
    1. Community Apartment
    Common Walls
    1. 2+ Common Walls
    Country
    1. US
    Days On Market
    1. 243
    Electric Expense
    1. 5000.00
    Entry Location
    1. front
    Fuel Expense
    1. 5000.00
    Garage Spaces
    1. 9.00
    Gardner Expense
    1. 2000.00
    Insurance Expense
    1. 18000.00
    Laundry Features
    1. None
    Levels
    1. Two
    Lot Features
    1. 16-20 Units/Acre
    Netoperatingincome
    1. 202373.00
    Newtaxesexpense
    1. 41250.00
    Number Of Separate Electric Meters
    1. 19
    Number Of Separate Gas Meters
    1. 19
    Otherexpense
    1. 4750.00
    Otherexpensedescription
    1. Misc.
    Otherincome1
    1. 21000.00
    Parcel Number
    1. 7266003017
    Pool Features
    1. None
    Professionalmanagementexpense
    1. 16292.00
    Property Type
    1. Apartment
    Sewer
    1. Public Sewer
    Sourcesystemid
    1. CRM
    Sourcesystemkey
    1. 412916067:CRM
    Totalexpenses
    1. 123467.00
    Trash Expense
    1. 5000.00
    Water Sewer Expense
    1. 5000.00
    Water Source
    1. Public
    Year Built
    1. 1924
    Year Built Source
    1. Assessor
    Zoning
    1. LBR2N
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836