Marcus & Millichap is pleased to present the opportunity to acquire 765 Cerritos Avenue, a 20-unit multifamily investment property located in Long Beach, one of the premier housing markets in Southern California.
765 Cerritos Avenue is adjacent to the East Village Arts District of Downtown Long Beach. This neighborhood is a vibrant, eclectic pocket within the city with boutique stores, art galleries, coffee shops and restaurants. The East Village is known for its walkability, and 765 Cerritos Avenue provides great access to all its amenities.
The 16,080 net square foot property consists of studio, one-, two-, and three-bedroom floor plans. 765 Cerritos Avenue features private balconies (select units), granite countertops, controlled access, security doors, a shared courtyard, on-site laundry facilities, and garage parking.
Historically known for its status as the preeminent harbor city on the West Coast, Long Beach continues to gain notoriety as an exciting and vibrant waterfront destination. Long Beach’s world-class port, prestigious university, unique business market, and unmatched local attractions have made it one of Southern California’s most desirable markets. Additionally, 765 Cerritos Avenue sits adjacent to some of the city’s highest concentration of new developments. These include numerous new residential and commercial developments that are revitalizing the landscape of the Downtown Long Beach.
Given the strength of the apartment market in Long Beach, 765 Cerritos Avenue offers an investor the ability to capture quality tenants seeking an exceptional living experience within a vibrant neighborhood. The areas surrounding the property provides tenants convenient access to a wide variety of activities, employment, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth and success at 765 Cerritos Avenue.