285 Cerritos AVE, Long Beach, CA 90802 – SB25096484

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Sean Beattie Jr.

info@seanbeattiejr.com +1(415) 845-8732

$1,995,000

Est. payment - /mo

8,546 Sqft Lot

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UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID SB25096484

HOA Y/N No

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

Cooling Heat Pump

Flooring Laminate

Fireplaces Type None

Fireplace No

Appliance Gas Oven, Gas Range

Laundry Inside

Exterior

Parking Features Driveway Level

Pool None

Community Features Urban

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

Total Parking Spaces 5

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7275003027

Energy Description 589.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by Anthony Walker • Buckingham Investments, Inc • 310-561-4776

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Sean Beattie Jr.

+1(415) 845-8732

Agent | CA DRE# 01944311

Agent CA DRE# 01944311

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285 Cerritos AVE Long Beach, CA 90802

Sean Beattie Jr.

Key Details

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Interior

Exterior

Building

Others

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