Long Beach, CA 90802,285 Cerritos Avenue
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Long Beach, CA 90802,285 Cerritos Avenue
Long Beach, CA 90802,285 Cerritos Avenue
Long Beach, CA 90802,285 Cerritos Avenue
Long Beach, CA 90802,285 Cerritos Avenue
Listed by Anthony P. Walker • Buckingham Investments, Inc

$1,950,000

Est. payment /mo

$1,995,000

2.3%
Est.Price: ?

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285 Cerritos Avenue Long Beach, CA 90802

6,096 SqFt

SOLD DATE : 07/28/2025

Key Details

Sold Price $1,950,000

Property Type Single Family Home

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Square Footage 6,096 sqft

Price per Sqft $319

Subdivision Alamitos Beach

MLS Listing ID SB-25096484

Sold Date 07/28/25

Year Built 1921

Lot Size 8,546 Sqft

Property Sub-Type Apartment

Property Description

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.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR3S

Interior

Heating Wall Furnace

Flooring Laminate

Fireplaces Type None

Laundry Inside

Exterior

Parking Features Driveway Level

Pool None

Community Features Urban

Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected

Building

Lot Description Rectangular Lot

Sewer Public Sewer

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agent

Cris Epstein

Advisor | License ID: 01385089

+1(818) 269-4377

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