348 Cerritos Avenue

Long Beach, CA 90802

$2,250,000
Price
16
Beds
9
Baths
6,232 Sq. Ft.
$361 / Sq. Ft.
6,232
Sq. Ft.
$361
per Sq. Ft.

Description

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.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.
  1. Listed by W. Kurt Wood • DRE #00452182 • Brokerage DRE #01011683 • Belmont Brokerage & Mgmt. INC. • 562-301-6763

Property Details for 348 Cerritos Avenue

View
None
Parking Spaces Total
4
Private Pool
No
Cooling Type
N/K
Total Units
8.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
6232

Location

Listing Courtesy of Belmont Brokerage & Mgmt. INC., W. Kurt Wood, DRE #00452182
Add your commute
LISTING UPDATED: 04/12/2024 06:49 AM

Property Details for 348 Cerritos Avenue

StatusPending
MLS #PW24063142
Days on Market8
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
CountyLos Angeles County

Location

Listing Courtesy of Belmont Brokerage & Mgmt. INC., W. Kurt Wood, DRE #00452182
Add your commute

Building Information for 348 Cerritos Avenue

Building/Complex348 Cerritos AveFloor-Stories2Residences-Pet Policy-Year Built1963Building Size-

Payment Calculator

$12,981 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,279

Property Taxes

$702

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 348 Cerritos Avenue

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity
Income / Expense / Tax Details
Income Details
  • Gross Income: $179,424
  • Gross Scheduled Income: $179,424
  • Net Operating Income: $0
  • Number Of Rented Garages: 4
  • Garage Rental Rate: $100
  • Garage Income: $4,800
  • Laundry Income: $25
  • Current Financing: None
Expense Details
  • Operating Expense: $0
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $0
Tax / Assessment Info
  • Tax Block: 138
  • Tax Tract Number: .
  • Tax Census Tract: 5765.01
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 3
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Biking, Curbs, Sidewalks, Storm Drains, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Individual Room
  • Laundry Equipment Own Lease: Lease
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
Exterior Features
  • Security Features: Gated Community, Smoke Detector(s)
  • Security: Gated Community
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Exterior: Stucco
  • Entry Location: Side Gate
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Walkstreet
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Sewer Paid
  • Sewer/Septic: Sewer Connected
  • Utilities: Cable Available, Electricity Connected, Sewer Connected, Water Connected
  • Electric: Cable Available, Electricity Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Assigned
Property / Structure Info
  • Builders Tract Name: Alamitos Beach
  • Builders Tract Code: Alamitos Beach (AB)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,785
  • Unit Type Total Rent: $1,785
  • Unit Type Pro Forma: 2481
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,995
  • Unit Type Total Rent: $1,995
  • Unit Type Pro Forma: 2481
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,675
  • Unit Type Total Rent: $1,675
  • Unit Type Pro Forma: 2481
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,617
  • Unit Type Total Rent: $1,617
  • Unit Type Pro Forma: 2581
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,995
  • Unit Type Total Rent: $1,995
  • Unit Type Pro Forma: 2481
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,630
  • Unit Type Total Rent: $1,630
  • Unit Type Pro Forma: 2481
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,885
  • Unit Type Total Rent: $1,885
  • Unit Type Pro Forma: 2481
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,970
  • Unit Type Total Rent: $1,970
  • Unit Type Pro Forma: 2481
  • Unit Type Type: 8
Unit Information
  • Number Of Units Leased: 2
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 1

Property History for 348 Cerritos Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 348 Cerritos Avenue

Taxable ValueLand$81,668Additions$469,028Total$550,696
Tax Record2023$8,423 ($702 / month)
Home Facts
Total Finished SqFt6,232 SqFtAbove Grade Finished SqFt6,232 SqFtLot Size6,252 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningLBR3SCountyLOS ANGELESAPN7275-005-003

Schools near 348 Cerritos Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Stevenson Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Renaissance High School For The Arts
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Belmont Brokerage & Mgmt. INC., W. Kurt Wood, DRE #00452182

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.