About 285 Cerritos Avenue
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 Beachs 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.
Features of 285 Cerritos Avenue
| MLS® # | SB25096484 |
|---|---|
| Price | $1,995,000 |
| Bedrooms | 3 |
| Bathrooms | 4.00 |
| Acres | 0.20 |
| Type | Residential Income |
| Sub-Type | Res Income 2-4 Units |
| Status | Closed |
Community Information
| Address | 285 Cerritos Avenue |
|---|---|
| Area | LONG BEACH (90802) |
| Subdivision | Alamitos Beach |
| City | Long Beach |
| County | Los Angeles |
| State | CA |
| Zip Code | 90802 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
| Pool | N/K |
Interior
| Cooling | Heat Pump(s) |
|---|---|
| Fireplace | Yes |
| Stories | 2 Story |
Additional Information
| Date Listed | April 29th, 2025 |
|---|---|
| Days on Market | 29 |
| Zoning | Assessor |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Buckingham Investments, Inc |
|---|