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    1415 Cedar Avenue

    Long Beach, CA 90813
    • $2,195,000
    • STATUS: CONTINGENT
    • ON SITE: 88 days
    • ID#: 302947923
    Under Contract
    $2,195,000
    • 8
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1949
    County:

    School Ratings & Info

    Description

    Pleased to present 1415 Cedar Ave, a ten-unit apartment building in Long Beach, California. Located just outside of Downtown Long Beach with proximity to the A Line (22-mile light rail line), Pacific Coast Highway and the 405 & 710 freeways. The asset boasts a 86 walk score providing tenants access to a variety of popular dining, retail, entertainment options and high-paying employment opportunities. The subject property is a two-story apartment building built in 1949. The ten-unit apartment building is c Pleased to present 1415 Cedar Ave, a ten-unit apartment building in Long Beach, California. Located just outside of Downtown Long Beach with proximity to the A Line (22-mile light rail line), Pacific Coast Highway and the 405 & 710 freeways. The asset boasts a 86 walk score providing tenants access to a variety of popular dining, retail, entertainment options and high-paying employment opportunities. The subject property is a two-story apartment building built in 1949. The ten-unit apartment building is comprised of five (5) two-bed/one-bath, three (3) one-bed/one-bath and two (2) studio/one-bath spacious units totaling 6,922 square feet. The building offers amenities including secure gated access, five (5) garages, on-site laundry and all units are separately metered for gas & electricity. Recent capital improvements include, but are not limited to, copper plumbing, updated electrical, roof, paint, ceramic tile floors, counter tops and appliances . 1415 Cedar Avenue provides an investor with the opportunity to own an asset in one of the most desired rental neighborhoods and fastest growing markets in Southern California. The asset offers strong in-place income and has over 25% potential upside in rents.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.92130homesonline.com/homes/111152041
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    1415 Cedar Avenue Long Beach, CA 90813

    • Price: $2,195,000
    • Status: CONTINGENT
    • ID#: 302947923
    8
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    1949
    Built
    Neighborhood:
    Washington
    County:
    Los Angeles
    Area:
    Long Beach (90813)
    Property Description
    Pleased to present 1415 Cedar Ave, a ten-unit apartment building in Long Beach, California. Located just outside of Downtown Long Beach with proximity to the A Line (22-mile light rail line), Pacific Coast Highway and the 405 & 710 freeways. The asset boasts a 86 walk score providing tenants access to a variety of popular dining, retail, entertainment options and high-paying employment opportunities. The subject property is a two-story apartment building built in 1949. The ten-unit apartment building is c Pleased to present 1415 Cedar Ave, a ten-unit apartment building in Long Beach, California. Located just outside of Downtown Long Beach with proximity to the A Line (22-mile light rail line), Pacific Coast Highway and the 405 & 710 freeways. The asset boasts a 86 walk score providing tenants access to a variety of popular dining, retail, entertainment options and high-paying employment opportunities. The subject property is a two-story apartment building built in 1949. The ten-unit apartment building is comprised of five (5) two-bed/one-bath, three (3) one-bed/one-bath and two (2) studio/one-bath spacious units totaling 6,922 square feet. The building offers amenities including secure gated access, five (5) garages, on-site laundry and all units are separately metered for gas & electricity. Recent capital improvements include, but are not limited to, copper plumbing, updated electrical, roof, paint, ceramic tile floors, counter tops and appliances . 1415 Cedar Avenue provides an investor with the opportunity to own an asset in one of the most desired rental neighborhoods and fastest growing markets in Southern California. The asset offers strong in-place income and has over 25% potential upside in rents.
    Exterior Features

    Exterior Stucco Pool N/K Site CurbsSidewalks Spa N/K

    Interior Features

    Cooling Wall/Window Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1

    Property Features

    Actual Cap Rate 5.12 Annual Expense Actual 57385 Buildings 1 Gross Rent Multiplier Actual 13.43 Gross Scheduled Income Actual 174672 Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 1650.0 Unit2 Rent Actual 1540.0 Unit3 Rent Actual 1445.0 Unit4 Rent Actual 1435.0 Zoning Assessor

    Listing provided courtesy of Lyon Stahl Investment Real Estate, Inc.. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    Wannebo Real Estate Group
    3636 Nobel Drive Suite 170
    San Diego CA, 92122