Sold for $2,185,000

Listed by: Belmont Brokerage & Mgmt. INC. • W. Kurt Wood • Contact: 562-437-3581

Bought with: Sage Real Estate Group, Inc.

$2,185,000

348 Cerritos Ave, Long Beach, CA 90802

16beds

9baths

6,232sqft

Multi Family

Built in 1963

-- sqft lot

$2,092,900 Zestimate^®

$351/sqft

$3,375 Estimated rent

Home value

$2,092,900

$1.80M - $2.41M

$3,375/mo

Zestimate^® history

Owner options

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$3,375/mo

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$3,375/mo

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$13,819/mo

Est. payment

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$13,819/mo

Est. payment

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What's special

Well kept 8 unit apartment building built in 1963 in great Downtown rental area. 7 two bedroom/one bath units and 1 two bath/two bath units. Over $49,000 recently spent to paint the exterior and install a new roof. Many long term tenants with lower than market rents. Current rents average $1,819 ($14,552 per month). Current Market rents average $2,481 per month or $19,948 per month. Market rents based on RentOmeter analysis.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 16
Bathrooms: 9

Cooling

None

Appliances

Laundry: Laundry Room

Features

Has fireplace: No
Fireplace features: None
Common walls with other units/homes: No Common Walls

Interior area

Total structure area: 6,232
Total interior livable area: 6,232 sqft

Property

Parking

Total spaces: 4
Parking features: Assigned
Garage spaces: 4

Features

Levels: Two
Stories: 2
Entry location: Side Gate
Pool features: None
Spa features: None
Has view: Yes
View description: None

Lot

Size: 6,252 Square Feet
Features: Walkstreet

Details

Parcel number: 7275005003
Zoning: LBR3S
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Stucco

Condition

New construction: No
Year built: 1963

Utilities & green energy

Sewer: Sewer Tap Paid
Water: Public
Utilities for property: Cable Available, Electricity Connected, Sewer Connected, Water Connected

Community & HOA

Community

Features: Biking, Curbs, Storm Drain(s), Street Lights, Suburban, Sidewalks, Gated
Security: Gated Community, Smoke Detector(s)
Subdivision: Alamitos Beach (Ab)

Location

Region: Long Beach

Financial & listing details

Price per square foot: $351/sqft
Date on market: 4/3/2024
Cumulative days on market: 8 days
Listing terms: Cash,Cash to New Loan
Total actual rent: 14552
Tenant pays: Cable TV, Electricity

Price history

Date	Event	Price
7/5/2024	Sold	$2,185,000-2.9%$351/sqft
Source: CRMLS #PW24063142 Report a problem
4/12/2024	Pending sale	$2,250,000$361/sqft
Source: CRMLS #PW24063142 Report a problem
4/3/2024	Listed for sale	$2,250,000$361/sqft
Source: CRMLS #PW24063142 Report a problem
1/16/2018	Listing removed	$1,495
Source: Belmont Brokerage and Management, Inc. Report a problem
1/12/2018	Listed for rent	$1,495
Source: Belmont Brokerage and Management, Inc. Report a problem