615 Cerritos Ave - Apartments FOR SALE


Long Beach, CA 90802- Downtown Long Beach
$2,150,000 USD
407-341-3254
615 Cerritos Ave, Long Beach, CA for Sale
$2,150,000 USD
Apartments - FOR SALE
1/30
null | 6.1% Cap Rate

615 Cerritos Ave
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • Very well maintained 8 unit with 4 garages for ADU Potential
  • New roof (2019 and resealed 2025), 100 amp main panels and subpanel upgrades in each unit to be completed by August 4th, fresh paint, new gutters
  • Great location in Alamitos Beach, nearby Retro Row and East Village Arts District

OVERVIEW

Proximity to Retro Row and the East Village Arts District, this clean 8 unit building features all large 2-bed/1-bath units with excellent layouts and strong tenant appeal. One unit will be delivered vacant and rent-ready, offering immediate income upside or owner-user potential. Recent upgrades, include a new roof (2019, resealed 2025), 100-amp main panels, and subpanel upgrades in each unit, to be completed by August 4th, fresh exterior paint, new gutters Additional value-add potential exists with garage ADU conversion possibilities, and two rear storage/laundry rooms currently not in use. With no tuck-under parking, the property avoids seismic retrofit requirements, making it easy to own and low maintenance. Property sits on a quiet street just steps from Franklin Middle School and the Museum of Latin American Art. With Long Beach preparing to host several Olympic competitions in 2028, the city is poised for international attention and long-term economic growth. This global spotlight, combined with ongoing infrastructure improvements and civic investment, makes Long Beach an increasingly attractive market for real estate investors.

FOR SALE DETAILS

PRICE

$2,150,000 USD

PRICE/SF

$350 USD /SF

# OF UNITS

8

PRICE/UNIT

$268,750

CAP RATE

6.1%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,299 SF

ZONING

R3S, Long Beach

APN/PARCEL ID

7266-006-024

ASK ABOUT THIS PROPERTY

Krissy MussendenBuckingham InvestmentsMore Info
407-341-3254

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Krissy MussendenBuckingham InvestmentsMore Info
407-341-3254

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.