Long Beach Multifamily Investment
753 Cerritos Ave, Long Beach, CA 90813
For Sale
$2,900,000
Well-maintained multifamily property near Downtown Long Beach development.
Property Size6,938 SF
Price / SF$417.99
Days on Market229
Property Features for 753 Cerritos Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Listing Agency:
Lyon Stahl Investment Real Estate
Listed By:
Cameron Samimi · License CA #02035763
(310) 425-9838
Source:
Findahomenorthcountysandiego
Added: Mar 27
Changed: Nov 7
Last Checked: Nov 8 at 6:37AM
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 Lyon Stahl Investment Real Estate
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Investment Insights
Based on property information with market context.
This multifamily property, constructed in the 1980s, presents an investment opportunity with a current 6.24% CAP Rate and an 11.04 GRM. The property consists of eight 2-bedroom, 2-bathroom units and two 1-bedroom, 1-bathroom units. One of the 2-bedroom, 2-bathroom units is currently vacant. Several units have been renovated with new floors, cabinets, appliances, bathrooms, and fixtures. On-site amenities include tuck-under parking and a laundry room. The property is located near Downtown Long Beach, an area experiencing approximately $6 billion in development, including projects such as the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, and Queen Mary Island. The property size is 6938 square feet.
Key Highlights
- Strong Cash Flow: Current 6.24% CAP Rate and 11.04 GRM.
- Priced at $295k/unit.
- Well‑maintained asset built in 1987.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$146,956
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,939,120
$2.9M
Cap Rate 7%
$2,099,371
$2.1M
Cap Rate 9%
$1,632,844
$1.6M
Market Conditions
NOI Build-Up for 6,938 SF
Gross rent
$278.9K $40.20/SF
− Vacancy
−$11.7K −$1.69/SF
EGI
$267.2K $38.51/SF
− OpEx
−$120.2K −$17.33/SF
NOI
$147.0K $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%
$2,939,120
Cap Rate 7%
$2,099,371
Cap Rate 9%
$1,632,844
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.84M – $2.45M
NOI $146,956 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.28M
$1.99M – $2.66M
NOI $159,469 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,250
Businesses Nearby
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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
$543,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Long Beach, CA
Properties on Market for Apartment buildings in Long Beach
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property near Downtown Long Beach development.
Where is this apartment building located?
The property is located at 753 Cerritos Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Strong Cash Flow: Current 6.24% CAP Rate and 11.04 GRM.; Priced at $295k/unit.; Well‑maintained asset built in 1987.
