
728 Cerritos Ave Long Beach, CA 90813
Hellman NeighborhoodAbout This Home
As of March 2025We are pleased to present a 19+1 unit apartment building located at 728 Cerritos Avenue in Long Beach, California. This is a value-add opportunity in a great location. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists of two parcels that total 11,750 rentable square feet spread throughout a 12,614 square foot lot. One property was built in 1924 and the other was built in 1952. The properties consist of 5 studios, 12 one bed/one bath units and 2 two bedroom / one bath units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 9 garages which generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores.
Last Agent to Sell the Property
Marcus & Millichap Brokerage Email: kking@marcusmillichap.com License #01158184 Listed on: 04/17/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1924
Lot Details
- 0.29 Acre Lot
- Two or More Common Walls
- Density is 16-20 Units/Acre
- 7266-003-016
Parking
- 9 Car Garage
Home Design
- Apartment
Interior Spaces
- 11,750 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Listing and Financial Details
- Tax Lot 15
- Tax Tract Number 576401
- Assessor Parcel Number 7266003017
- $1,768 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 19 Units
Building Details
- 19 Separate Electric Meters
- 19 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $5,000
- Fuel Expense $5,000
- Gardener Expense $2,000
- Insurance Expense $18,000
- Maintenance Expense $16,150
- Other Expense $4,750
- Professional Management Expense $16,292
- Trash Expense $5,000
- Water Sewer Expense $5,000
- New Taxes Expense $41,250
- Operating Expense $123,467
- Gross Income $325,840
- Net Operating Income $202,373
Similar Homes in Long Beach, CA
Home Values in the Area
Average Home Value in this Area
Property History
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
03/13/2025 03/13/25 | Sold | $2,350,000 | -28.8% | $200 / Sq Ft |
03/10/2025 03/10/25 | Pending | -- | -- | -- |
01/08/2025 01/08/25 | For Sale | $3,300,000 | 0.0% | $281 / Sq Ft |
01/07/2025 01/07/25 | Pending | -- | -- | -- |
11/22/2024 11/22/24 | Price Changed | $3,300,000 | -7.0% | $281 / Sq Ft |
11/19/2024 11/19/24 | Price Changed | $3,550,000 | -6.6% | $302 / Sq Ft |
11/19/2024 11/19/24 | For Sale | $3,800,000 | 0.0% | $323 / Sq Ft |
11/12/2024 11/12/24 | Pending | -- | -- | -- |
08/12/2024 08/12/24 | Price Changed | $3,800,000 | -9.5% | $323 / Sq Ft |
05/24/2024 05/24/24 | Price Changed | $4,200,000 | -6.7% | $357 / Sq Ft |
04/17/2024 04/17/24 | For Sale | $4,500,000 | -- | $383 / Sq Ft |
Tax History Compared to Growth
Agents Affiliated with this Home
-
Seller's Agent in 2025
Kevin King
Marcus & Millichap
(562) 257-1245
3 in this area
45 Total Sales
-
N
Buyer's Agent in 2025
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
2 in this area
5,741 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24076719

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