370 N CERRITOS AVE.
Azusa, CA 91702 · APN 8612-020-019
UNITS
49
BUILDING SF
38,390
SF / UNIT
783
YEAR BUILT
1961
BEDROOMS
66
BATHROOMS
51
USE · CODE 0501
5+ UNITS
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PROP 13 ASSESSED VALUES, USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE, NOT A VERIFIED CLOSING PRICE.
OUTSIDE THE CITY OF LA ORDINANCE
The roll places this parcel in Azusa, not the City of Los Angeles, so the city's Rent Stabilization Ordinance does not reach it. That is not the same as unregulated: Santa Monica, West Hollywood, Beverly Hills, Culver City, Inglewood, Pasadena, Glendale and others run their own stabilisation ordinances, unincorporated county parcels fall under the County's, and the statewide AB 1482 cap applies where no stronger local rule does. Check the local ordinance before underwriting the rent roll.
Recent sales nearby.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR), NOT VERIFIED CLOSING PRICES.
Buildings like this one.
ON N CERRITOS AVE · ZIP 91702
SIMILAR SIZE AND ERA IN 91702
The short answers.
Is 370 N Cerritos Ave rent controlled?
The roll places this parcel in Azusa, not the City of Los Angeles, so the city's Rent Stabilization Ordinance does not reach it. That is not the same as unregulated: Santa Monica, West Hollywood, Beverly Hills, Culver City, Inglewood, Pasadena, Glendale and others run their own stabilisation ordinances, unincorporated county parcels fall under the County's, and the statewide AB 1482 cap applies where no stronger local rule does. Check the local ordinance before underwriting the rent roll. This is an inference from public assessor records, not a determination. Confirm the certificate of occupancy date with the LA Housing Department or ZIMAS before you rely on it for pricing or notices.
How many units does 370 N Cerritos Ave have?
County records list 49 units at 370 N Cerritos Ave, classified as 5+ units across 38,390 square feet of building area, averaging about 783 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
When was 370 N Cerritos Ave built?
The assessor roll gives a build year of 1961, which puts it in the stock old enough for the LA Rent Stabilization Ordinance to reach it, where the building sits inside City of Los Angeles limits. Age drives more than character here. It sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
When did 370 N Cerritos Ave last sell, and for how much?
The last recorded transfer was September 2022, at an estimated $12,300,000, about $251,020 per unit. That price is estimated from the Proposition 13 reassessment recorded at sale, not a verified closing price, so treat it as a close approximation rather than a confirmed figure.
What is 370 N Cerritos Ave assessed at, and is that what it is worth?
The current assessed value is $12,796,920 ($7,698,960 land, $5,097,960 improvements). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for.
How do I find out what 370 N Cerritos Ave would sell for today?
Public records give you the frame, units, size, age, assessed value, and when it last traded, but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
Leave an email and I'll come back with what it is worth and whether the owner is likely to trade. It does not have to be for sale, and it does not have to be my listing.
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