7-Unit Apartment Building with In-Unit
For Sale
$2,100,000
1720 Cerritos Avenue, Long Beach, CA 90813
Updated kitchens, dishwashers, and private laundry serve a mix of two- and three-bedroom apartments.
Property Size6,074 SF
Price / SF$345.74
Days on Market162
Property Features for 1720 Cerritos Avenue
General Information
Standard status
Active
Size
6,074 SF
Property subtype
Apartment
Financials
Cap Rate
6.67%
Gross Rent Multiplier
10.5
Site & Location
Neighborhood
Central
Units
Unit Mix
6 x 2-Bed/1-Bath, 1 x 3-Bed/1.5-Bath
Multifamily Units
7
Amenities
washer and dryer
dishwasher
Building Details
Building Size
6,074 SF
Year Built
1963
Buildings
1
Listing Agency:
RE/MAX Fine Homes
(949) 922-2488
Listed By:
Canaday Group · License #00560041
(949) 249-2424
Source:
Canadaygroup
Added: May 19
Changed: Oct 26
Last Checked: Oct 26 at 2:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Fine Homes
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Investment Insights
Based on property information with market context.
This 7-unit apartment building contains six 2-bedroom, 1-bath units and one 3-bedroom, 1.5-bath unit. Each apartment has its own washer and dryer, dishwasher, updated kitchen, flooring, and fixtures. The building totals 6,074 square feet, with units averaging more than 800 square feet. Built in 1963, the property also has copper plumbing, a newer roof, and electrical subpanels in each unit; these improvements were completed within the past five years.
The property is just outside Downtown Long Beach, where the source identifies multiple development projects, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, and Queen Mary Island. The remarks cite $6 billion in development but do not specify the projects’ individual values.
The property is just outside Downtown Long Beach, where the source identifies multiple development projects, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, and Queen Mary Island. The remarks cite $6 billion in development but do not specify the projects’ individual values.
Key Highlights
- 7 apartments: six 2‑bedroom/1‑bath units and one 3‑bedroom/1.5‑bath unit
- 6,074 square feet; average apartment size exceeds 800 square feet
- Private washer and dryer and a dishwasher in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,656
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,573,120
$2.6M
Cap Rate 7%
$1,837,943
$1.8M
Cap Rate 9%
$1,429,511
$1.4M
Market Conditions
NOI Build-Up for 6,074 SF
Gross rent
$244.2K $40.20/SF
− Vacancy
−$10.3K −$1.69/SF
EGI
$233.9K $38.51/SF
− OpEx
−$105.3K −$17.33/SF
NOI
$128.7K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,573,120
Cap Rate 7%
$1,837,943
Cap Rate 9%
$1,429,511
Alternative Uses
Best Use
Apartment 5plus
$1.84M
$1.61M – $2.14M
NOI $128,656 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.99M
$1.75M – $2.33M
NOI $139,610 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,025
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated kitchens, dishwashers, and private laundry serve a mix of two- and three-bedroom apartments.
Where is this apartment building located?
The property is located at 1720 Cerritos Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 7 apartments: six 2‑bedroom/1‑bath units and one 3‑bedroom/1.5‑bath unit; 6,074 square feet; average apartment size exceeds 800 square feet; Private washer and dryer and a dishwasher in every unit
