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5575 Cerritos Ave, Long Beach, CA 90805
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5575 Cerritos Ave Long Beach, CA 90805

$740,000 Sold Price as of 11/17/2022
  • 4 Beds
  • 3 Baths
  • 1,745 Sq.Ft.
Sold
$740,000 Sold Price as of 11/17/2022 Refinance Your Mortgage
Map preview of 5575 Cerritos Ave, Long Beach, CA 90805

Property Overview: 5575 Cerritos Ave Long Beach, CA has 4 bedrooms, 3 bathrooms, 1,745 living square feet and 4,242 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 5575 Cerritos Avenue is a duplex located just above Bixby Knolls perfect for an owner user or investor. The building is situated on a 4,242 square foot lot. The sub ject property is composed of (1) 2 bedroom and 2 bath house (built 1934) and (1) 2 bedroom and 1 bath unit (built 1965). The front house is approximately 1,200 square feet and the detached back unit is approximately 600 square feet. There are (3) single car garages with alley access below the back unit. The front house includes a large den that can be converted into a bedroom. Also included is new laminate flooring throughout and carpet in each bedroom. The back unit includes new hardwood flooring and carpet in each bedroom. Gas and electric are individually metered paid by the tenants and the owner pays for water and trash. There is a washer and dryer located in one of the garages that are used by the tenants. There is a value-add opportunity to build an ADU and increase rental income. Leases are month to month and are due for a rent increase as soon as new buyer takes ownership. **Price Updated to $700,000. Please see updated OM**

Listed by John McCann | BRE #01963932 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 3 minutes ago | Last updated: November 18th, 2022 | Source CRMLS | DOM: 35

Home details

Lot Sq. Ft
4,242
HOA Dues
$0/mo
Year built
1934
Garage
3 Car
Property Type:
Multi Family
Status
Sold
MLS#
22194801
City
Long Beach
County
Los Angeles
Time on Site
748 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,800
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,800
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $2,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 16.2
  • Gross Scheduled Income: --
  • Net Operating Income: $29,381
  • Gross Operating Income: $41,904
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5575 Cerritos Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Room Information
  • Flooring: Laminate, Wood
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Ceiling Fan(s)
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
  • Has Parking
  • Parking Features: Garage - Three Door
Property Information
  • Total # of Units: 2
  • Parcel Number: 7128002004
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Westbound from Orange Ave and Northbound from E Market St.
View more facts & features

Local Long Beach Agent

Sale History for 5575 Cerritos Ave

Last sold for $740,000 on November 17th, 2022

  • November, 2022

  • Nov 17, 2022

    Date

    Sold

    CRMLS: 22194801

    $740,000

    Price

  • Aug 30, 2022

    Date

    Active

    CRMLS: 22194801

    $750,000

    Price

  • January, 2021

  • Jan 1, 2021

    Date

    Expired

    CRMLS: IG19255181

    $1,800

    Price

  • Feb 23, 2020

    Date

    Withdrawn

    CRMLS: IG19255181

    $1,800

    Price

  • Nov 6, 2019

    Date

    Price Change

    CRMLS: IG19255181

    $1,800

    Price

  • Oct 31, 2019

    Date

    Active

    CRMLS: IG19255181

    $1,600

    Price

  • Listing provided courtesy of CRMLS

    This is a spacious 2 bedroom apartment includes kitchen and your own garage. It doesn't have any sharing walls . Separate access and entry . Patio space is gated as well. Close to free way. Hurry it own last .

  • April, 2020

  • Apr 7, 2020

    Date

    Leased

    CRMLS: DW20038021

    $1,650

    Price

  • Mar 19, 2020

    Date

    Price Change

    CRMLS: DW20038021

    $1,650

    Price

  • Mar 19, 2020

    Date

    Active

    CRMLS: DW20038021

    $1,750

    Price

  • Mar 16, 2020

    Date

    Hold

    CRMLS: DW20038021

    $1,750

    Price

  • Feb 20, 2020

    Date

    Active

    CRMLS: DW20038021

    $1,750

    Price

  • Listing provided courtesy of CRMLS

    Great opportunity to live in a spacious, 2/1 upstairs unit!! Open floor plan and ample bedrooms. Above garage, no neighbor below.. Separate entrance. Includes: refrigerator, stove, and garage parking for 1 car.

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Tax History for 5575 Cerritos Ave

Assessed Value (2020): $159,336
Year Land Value Improved Value Assessed Value
2020 $61,900 $97,436 $159,336

Home Value Compared to the Market

This property vs the competition

5575 Cerritos Ave sold on November 17, 2022 for 14.53% lower 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 $401.15 per/sqft which puts the price per square foot 36.12% lower than the current median sale per square foot for the city of Long Beach.

About 5575 Cerritos Ave

Detailed summary of property

5575 Cerritos Ave is a multi family that recently sold in Long Beach, CA 90805. This multi family property offered 4 bedrooms, 3 bathrooms, roughly 1,745 living square feet, and sits on an approximately 4,242 square foot lot. 5575 Cerritos Ave was first listed on ArdentRealEstateGroup.com on September 2, 2022. The homeowner sold the property for $740,000. 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 14.53% lower than the current median priced home. Local homes that are currently for sale include 702 Cedar Ave, 765 Loma Ave and 10501 Weigand Ave. While the average home in Long Beach, CA is selling in 62 days, 5575 Cerritos Ave has a days on market of 35 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 5575 Cerritos Ave Long Beach, CA 90805 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 5575 Cerritos Ave

Public county record property details
Beds
4
Baths
3
Year built
1934
Sq. Ft.
1,745
Lot Size
4,241
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
7128-002-004

The source for these homes facts are from public records.

90805 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$680,000
Median List Price/Sq.Ft.
$552
Median Sold Price
$700,000
Median Sold Price/Sq.Ft.
$568
Total Inventory
96
Median Sale to List Price %
101.89%
Avg Days on Market
28
Loan Type
Conventional (42.11%), FHA (36.84%), VA (10.53%), Cash (0%), Other (10.53%)

Thinking of Selling?

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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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