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751 Cerritos Ave, Long Beach, CA 90813
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751 Cerritos Ave Long Beach, CA 90813

$2,349,000 Sold Price as of 08/16/2024
  • 18 Beds
  • 18 Baths
  • 6,938 Sq.Ft.
Sold
$2,349,000 Sold Price as of 08/16/2024 Refinance Your Mortgage
Map preview of 751 Cerritos Ave, Long Beach, CA 90813

Property Overview: 751 Cerritos Ave Long Beach, CA has 18 bedrooms, 18 bathrooms, 6,938 living square feet and 7,338 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: PRICED TO SELL. 9X GRM and a 6.5% CAP on actual rents with upside to a 7.1% CAP. 10 units in Alamitos Beach in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Built in 1987, the property is professionally managed and well maintained. There are 14 onsite parking spaces - 1 for each unit plus 4 for rent. The 2nd floor units feature tall, vaulted ceilings and some have partial ocean views. The Property has an onsite laundry room. All units were updated from 2017-2019. The subpanels are 50 AMPS and the main panel is 200 AMPS. Plumbing is copper - Buyer to verify. Priced at only $340/SF. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND ACTUAL EXPENSES.

Listed by Jonathan Swire | BRE #01336277 | The Agency
Last checked: 14 minutes ago | Last updated: August 16th, 2024 | Source CRMLS | DOM: 23

Home details

Lot Sq. Ft
7,338
HOA Dues
$0/mo
Year built
1987
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
24391473
City
Long Beach
County
Los Angeles
Time on Site
128 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,850
  • Total Rent: $1,895
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 8
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,495
  • Pro Forma/Market Rent: $2,450
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.5%
  • Gross Rent Multiplier: 9
  • Gross Scheduled Income: --
  • Net Operating Income: $204,000
  • Gross Operating Income: $282,000
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 751 Cerritos Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 14
Property Information
  • Total # of Units: 10
  • Parcel Number: 7266004043
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 10 units in Alamitos Beach, Long Beach.
View more facts & features

Local Long Beach Agent

Sale History for 751 Cerritos Ave

Last sold for $2,349,000 on August 16th, 2024

  • August, 2024

  • Aug 16, 2024

    Date

    Sold

    CRMLS: 24391473

    $2,349,000

    Price

  • May 13, 2024

    Date

    Active

    CRMLS: 24391473

    $2,349,000

    Price

  • May, 2017

  • May 19, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,850,000

    Price

  • October, 2004

  • Oct 13, 2004

    Date

    Sold (Public Records)

    Public Records

    $1,100,000

    Price

Show More

Tax History for 751 Cerritos Ave

Assessed Value (2020): $1,963,234
Year Land Value Improved Value Assessed Value
2020 $1,374,264 $588,970 $1,963,234

Home Value Compared to the Market

This property vs the competition

751 Cerritos Ave sold on August 16, 2024 for 186.81% 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 $338.57 per/sqft which puts the price per square foot 46.09% lower than the current median sale per square foot for the city of Long Beach.

About 751 Cerritos Ave

Detailed summary of property

751 Cerritos Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 18 bedrooms, 18 bathrooms, roughly 6,938 living square feet, and sits on an approximately 7,338 square foot lot. 751 Cerritos Ave was first listed on ArdentRealEstateGroup.com on May 14, 2024. The homeowner sold the property for $2,349,000. 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 186.81% higher than the current median priced home. Local homes that are currently for sale include 1885 Chestnut Ave, 321 W Hill St and 10 Redondo Ave. While the average home in Long Beach, CA is selling in 62 days, 751 Cerritos Ave has a days on market of 23 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 751 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 751 Cerritos Ave

Public county record property details
Beds
18
Baths
18
Year built
1987
Sq. Ft.
6,938
Lot Size
7,337
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
7266-004-043

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%)

Thinking of Selling?

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Recently Sold Homes Near 751 Cerritos Ave

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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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