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1061 Cerritos Ave, Long Beach, CA 90813
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1061 Cerritos Ave Long Beach, CA 90813

$1,084,000 Sold Price as of 01/29/2021
  • 8 Beds
  • 4 Baths
  • 2,964 Sq.Ft.
Sold
$1,084,000 Sold Price as of 01/29/2021 Refinance Your Mortgage
Map preview of 1061 Cerritos Ave, Long Beach, CA 90813

Property Overview: 1061 Cerritos Ave Long Beach, CA has 8 bedrooms, 4 bathrooms, 2,964 living square feet and 6,744 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This 4 UNIT BUILDING was built in 1984 and fully remodeled in 2018 - very low maintenance expenses. Four units are comprised of four 2 bedroom 1 bathroom units. The current owner invested a substantial amount in extensive renovation. The exterior of the building has recently been painted and the roof replaced. The stairs and balconies have been replaced. There may be the possibility of adding an ADU in the very large parking area. The property has all newer vinyl windows as well as sliding glass doors. Interiors have been repainted and upgraded the units have all new flooring. Two upstairs units have entirely new kitchens and new bathrooms. The property is near the Port of Long Beach, with convenient access to California State University, Long Beach & Long Beach City College. Please contact listing agent for more property information

Listed by Michael Borba | BRE #01380572 | Borba Investment Realty
Co-listed by Sonya Borba | BRE #01112236 | Borba Investment Realty
Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 5

Home details

Lot Sq. Ft
6,744
HOA Dues
$0/mo
Year built
1984
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
RS20212203
City
Long Beach
County
Los Angeles
Time on Site
1442 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,541
  • Total Rent: $1,541
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,750
  • Total Rent: $1,750
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,675
  • Total Rent: $1,675
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,730
  • Total Rent: $1,730
  • Pro Forma/Market Rent: $1,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.2%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $80,351
  • Net Operating Income: $57,314
  • Gross Operating Income: $77,941
  • Laundry Income: $60
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $20,627
  • Electric: $156
  • Gas/Fuel: $144
  • Licenses: $493
  • New Taxes: $13,737
  • Trash: $0
  • Gardener: $480
  • Insurance: $1,200
  • Maintenance: $3,117
  • Water/Sewer: $1,300

Property Details for 1061 Cerritos Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area, Dryer Included, Washer Included
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 12
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 7267005011
  • Year Built Source: Appraiser
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Sewer Paid
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Downtown (DT)
  • Directions: South of Anaheim, East of Alamitos
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 1061 Cerritos Ave

Last sold for $1,084,000 on January 29th, 2021

  • January, 2021

  • Jan 29, 2021

    Date

    Sold

    CRMLS: RS20212203

    $1,084,000

    Price

  • Oct 14, 2020

    Date

    Pending

    CRMLS: RS20212203

    $1,099,000

    Price

  • Oct 9, 2020

    Date

    Active

    CRMLS: RS20212203

    $1,099,000

    Price

  • January, 2021

  • Jan 29, 2021

    Date

    Sold (Public Records)

    Public Records

    $1,084,000

    Price

  • September, 2020

  • Sep 16, 2020

    Date

    Expired

    CRMLS: SR20058162

    $1,200,000

    Price

  • Mar 17, 2020

    Date

    Active

    CRMLS: SR20058162

    $1,200,000

    Price

  • Listing provided courtesy of CRMLS

    INCOME PROPERTY This 4 UNIT BUILDING was built in 1984 and fully remodeled in 2018 The 4 units are comprised of four 2 bedroom 1 bathroom units. The current owner invested over $100,000 dollars in an extensive building renovation. The exterior of the building has recently been painted along with the roof being replaced. The stairs and balconies have been replaced. The property has all new vinyl windows as well as sliding glass doors. Interiors have been repainted and upgraded the units have all new flooring. Two upstairs units have entirely new kitchens and new bathrooms. Long Beach near the Port of Long Beach, with convenient access to California State University, Long Beach & Long Beach City College, and large private employers include Long Beach Memorial Medical Center, Boeing Aerospace, Molina Healthcare & SCAN Healthplan. Cashflow profiles are available for serious buyers only.

  • December, 2018

  • Dec 28, 2018

    Date

    Price Change

    CRMLS: I402806

    $615,000

    Price

  • Listing provided courtesy of CRMLS

    BACK ON THE MARKET, JUST REDUCED PRICE, NEWER UNITS IN AREA,ALL UNITS RENTED, MOTIVIATED OUTAREA INVESTER, CURRENT RENT ARE LOW, NEW OWNER COULD ADJUST RENT INCOME. SUBJECT TO SELLER'S PURCHASE NEW REPLACEMENT PROPERTY.

  • June, 2016

  • Jun 23, 2016

    Date

    Sold (Public Records)

    Public Records

    $895,000

    Price

Show More

Tax History for 1061 Cerritos Ave

Assessed Value (2020): $968,776
Year Land Value Improved Value Assessed Value
2020 $681,932 $286,844 $968,776

Home Value Compared to the Market

This property vs the competition

1061 Cerritos Ave sold on January 29, 2021 for 34.19% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $370.78 per/sqft which puts the price per square foot 40.96% lower than the current median sale per square foot for the city of Long Beach.

About 1061 Cerritos Ave

Detailed summary of property

1061 Cerritos Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 8 bedrooms, 4 bathrooms, roughly 2,964 living square feet, and sits on an approximately 6,744 square foot lot. 1061 Cerritos Ave was first listed on ArdentRealEstateGroup.com on October 9, 2020. The homeowner sold the property for $1,084,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 34.19% higher than the current median priced home. Local homes that are currently for sale include 340 E 19th St, 229 W 8th St and 2624 E 6th St. While the average home in Long Beach, CA is selling in 62 days, 1061 Cerritos Ave has a days on market of 5 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 1061 Cerritos Ave Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1061 Cerritos Ave

Public county record property details
Beds
8
Baths
4
Year built
1984
Sq. Ft.
2,672
Lot Size
6,744
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
10
APN
7267-005-011

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$560,000
Median List Price/Sq.Ft.
$553
Median Sold Price
$495,000
Median Sold Price/Sq.Ft.
$587
Total Inventory
35
Median Sale to List Price %
99.02%
Avg Days on Market
24
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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