Property Details
About this Property
6.2% cap rate on actuals only 3 blocks to the beach! 10.6X GRM on actuals with a 9% upside to 9.7X GRM on market rents and 6.9% market cap rate. Totally remodeled 8 unit (7+1 ADU) property consisting of two buildings with 4 units each and parking for 5 cars. Corner building consists of four large 900 square foot units with 2 bedroom floor plans upstairs and large 1 bedroom floor plans on ground level. Second building has a brand new 2025 construction 2 bed/1 bath ADU, two studios, and a large 1 bed/1 bath unit. All unit interiors remodeled since 2022, new electrical in 285 building, full paint and exterior refresh just completed. Great curb appeal on a large 8,546 square foot corner lot. Ideal location in the heart of Alamitos Beach only 3 blocks to the sand. 2 blocks from Downtown Long Beach’s East Village Arts District with numerous restaurants, retail, and entertainment options. Over $8 Billion in new development in the immediate vicinity. 63% of households within 5 miles are renters with an average households income of $98,000+ (per CoStar research). Directly across the street from the Historic Ebell Club of Long Beach.
MLS Listing Information
MLS #
CRSB25096484
MLS Source
California Regional MLS
Days on Site
15
Interior Features
Appliances
Other, Oven - Gas, Oven Range - Gas
Flooring
Laminate
Heating
Wall Furnace
Parking, School, and Other Information
Garage/Parking
Garage: 0 Car(s)
HOA Fee
$0
Contact Information
Listing Agent
Anthony Walker
Buckingham Investments, Inc
License #: 01908153
Phone: (310) 982-7055
Co-Listing Agent
Josh Ess
License #: 02035659
Phone: (310) 982-7055
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
285 Cerritos Ave is a Residential Income in Long Beach, CA 90802. This – square foot property sits on a 8,546 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,995,000 and was built in 1921. This address can also be written as 285 Cerritos Ave, Long Beach, CA 90802.
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This listing information is up-to-date as of May 01, 2025. For the most current information, please contact Anthony Walker, (310) 982-7055
