753 Cerritos Ave

Discover the vibrant community surrounding the property at 753 Cerritos Ave, Long Beach, CA. Long Beach offers a diverse and exciting environment for multifamily/mid-rise investors. Just minutes away from the property, you'll find the bustling East Village Arts District, renowned for its art galleries, boutiques, and dining options. Nearby attractions include the iconic Queen Mary, the lively Pike Outlets, and the beautiful waterfront with its stunning views. With its close proximity to major transportation hubs and a wide range of amenities, the location presents an unparalleled investment opportunity in the heart of this dynamic coastal city.Pride of Ownership, 80's Construction - Current 6.24% CAP Rate and 11.04 GRM. Priced at only $295k/unit, 753 Cerritos Ave is the ideal opportunity for any investor looking for a well-maintained asset with strong cash flow. 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.