Long Beach, CA 90802,285 295 Cerritos AVE
Long Beach, CA 90802,285 295 Cerritos AVE
Long Beach, CA 90802,285 295 Cerritos AVE
Long Beach, CA 90802,285 295 Cerritos AVE
Long Beach, CA 90802,285 295 Cerritos AVE
Long Beach, CA 90802,285 295 Cerritos AVE
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$1,780,000

$1,795,000

0.8%
Est.Price: ?

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Est. payment /mo

8,542 Sqft Lot


SOLD DATE : 01/05/2022

Key Details

Sold Price $1,780,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID PW21202745

Sold Date 01/05/22

HOA Y/N No

Year Built 1921

Lot Size 8,542 Sqft

Property Description

285-295 Cerritos Avenue is a 7-unit investment asset well-located in the highly desirable Alamitos Beach neighborhood of Long Beach, just a short walk to the beach and Bluff Park, and in close proximity to East Village Arts District and 4th Street/Retro Row. The property is comprised of sizable units with a favorable mix of (4) 1 BD+1BA+Den; (1) Studio+Den and (2) Studios. This 1920's property features vintage hardwood floors with period built-ins and detailing. Onsite laundry and garages provide additional income. Off-street surface parking is available for up to six cars. The property is in close proximity to the hip boutiques, restaurants and bars along Fourth Street/Retro Row and along the Broadway Corridor. The neighborhood is also adjacent to East Village Arts District, Downtown Long Beach and a myriad of employment opportunities. According to Niche.com, Alamitos Beach ranks as the number three of 47 Best Neighborhoods for Young Professionals. Rents in this submarket are 19% higher than other Long Beach submarkets, on average and vacancy rates are historically low. 285-295 Cerritos Avenue has 23% upside potential in income and six of the seven units are on month-to-month terms.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR3S

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Asphalt, Driveway

Pool None

Community Features Urban

Parking Type Asphalt, Driveway

Total Parking Spaces 6

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7275003027

Energy Description 900.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Cash to New Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Robert Stepp • Keller Williams - Santa Monica
Bought with Anthony Walker • Buckingham Investments, Inc
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2603 Camino Ramon, Ramon, CA, 94583

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