541 Cerritos Avenue, Long Beach, California 90802, Long Beach, 90802 - bed, bath
ACTIVE$1,150,000
541 Cerritos Avenue, Long Beach, California 90802
0Bed
0Bath
1,980Sqft
3,285Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Investment Opportunity: This quadruplex is explicitly marketed as a 'GREAT INVESTMENT OPPORTUNITY,' offering four income-generating units in a desirable area, ideal for investors seeking consistent rental income.
Top Cons:
Compact Unit Sizes: Each of the four 1-bedroom, 1-bathroom units is approximately 500 square feet, which is relatively small and may limit the tenant pool or potential rental income compared to larger units.
Compared to the nearby listings
Price:$1.15M vs avg $1.05M (+$100,000)73%
Size:1,980 sqft vs avg 2,688 sqft27%
Price/sqft:$581 vs avg $48882%
More Insights
Built in 1922 (103 years old).
Condition: Despite being built in 1922, the property has undergone significant and recent updates to its kitchens, bathrooms, and flooring, as confirmed by the description and images. The kitchens feature modern white shaker cabinets, stainless steel appliances, and subway tile backsplashes. Bathrooms are also updated with modern vanities and tiled showers. The flooring is updated LVP/laminate. These updates make the units move-in ready with no immediate renovation required for tenants. While the property's underlying structure is over 100 years old, the visible renovations are extensive and modern, aligning with the 'Good' criteria for an older property that has been extensively renovated within the last 5-15 years and is well-maintained.
Year Built
1922
Close
-
List price
$1.15M
Original List price
$1.2M
Price/Sqft
$581
HOA
-
Days on market
-
Sold On
-
MLS number
AR25160658
Home ConditionGood
Features
Patio
View-
About this home
GREAT INVESTMENT OPPORTUNITY!!! This wonderful craftsman property features 4 units located in the highly desirable Alamitos Bay area of Downtown Long Beach. The property consists of four one bedroom, one bathroom units that are about 500 square feet and have been well maintained. The floors and kitchens have recently been updated. The property boasts a walk score of 92 and a bike score of 93 and is located within walking distance from all the best that Downtown Long Beach has to offer. All the units are individually metered for electricity and gas with individual water heaters for each unit.
Nearby schools
7/10
Stevenson Elementary School
Public,•K-5•0.3mi
6/10
Burbank Elementary School
Public,•K-5•0.8mi
6/10
Franklin Classical Middle School
Public,•6-8•0.0mi
7/10
Jefferson Leadership Academies School
Public,•6-8•1.7mi
6/10
Polytechnic High School
Public,•9-12•1.0mi
6/10
Wilson High School
Public,•9-12•2.1mi
Price History
Date
Event
Price
09/01/20
Sold
$830,000
05/15/06
Sold
$198,500
12/10/03
Sold
$490,000
Condition Rating
Good
Despite being built in 1922, the property has undergone significant and recent updates to its kitchens, bathrooms, and flooring, as confirmed by the description and images. The kitchens feature modern white shaker cabinets, stainless steel appliances, and subway tile backsplashes. Bathrooms are also updated with modern vanities and tiled showers. The flooring is updated LVP/laminate. These updates make the units move-in ready with no immediate renovation required for tenants. While the property's underlying structure is over 100 years old, the visible renovations are extensive and modern, aligning with the 'Good' criteria for an older property that has been extensively renovated within the last 5-15 years and is well-maintained.
Pros & Cons
Pros
Prime Investment Opportunity: This quadruplex is explicitly marketed as a 'GREAT INVESTMENT OPPORTUNITY,' offering four income-generating units in a desirable area, ideal for investors seeking consistent rental income.
Exceptional Walkability & Bikeability: Boasting an impressive Walk Score of 92 and Bike Score of 93, the property offers unparalleled access to Downtown Long Beach amenities, appealing to tenants seeking a car-optional lifestyle.
Highly Desirable Location: Situated in the 'highly desirable Alamitos Bay area of Downtown Long Beach,' the property benefits from a prime urban location with strong rental demand and potential for appreciation.
Individual Utility Metering: All units are individually metered for electricity and gas, and have individual water heaters, significantly reducing landlord operating expenses and simplifying property management.
Recent Interior Updates: The units feature recently updated floors and kitchens, enhancing their appeal to prospective tenants and minimizing immediate renovation costs for a new owner.
Cons
Compact Unit Sizes: Each of the four 1-bedroom, 1-bathroom units is approximately 500 square feet, which is relatively small and may limit the tenant pool or potential rental income compared to larger units.
Age of Property: Built in 1922, while described as 'well maintained' and having recent cosmetic updates, the property's age suggests potential for older major systems (e.g., plumbing, electrical beyond metering, roof, foundation) that may require significant capital expenditure in the future.
Limited Parking/Outdoor Space: Given the urban location and a lot size of 3285 sqft for a quadruplex, there may be limited dedicated parking or outdoor amenity space, which can be a drawback for tenants with vehicles or those desiring more personal outdoor areas.