1044 Cedar Avenue
Long Beach, CA 90813

$1,225,000 Price reduced from $1,250,000 (-$25,000)
  • -- Beds
  • -- Baths
  • 4,744 sqft
  • Residential Income
  • Active
1044 Cedar Avenue, Long Beach - 538447466
1044 Cedar Avenue, Long Beach - 538447467
1044 Cedar Avenue, Long Beach - 538447468
1044 Cedar Avenue, Long Beach - 538447469
1044 Cedar Avenue, Long Beach - 538447470
1044 Cedar Avenue, Long Beach - 538447471
1044 Cedar Avenue, Long Beach - 538447472
1044 Cedar Avenue, Long Beach - 538447473

Property Description for 1044 Cedar Avenue, Long Beach CA 90813

Presented is the Cedar Avenue Apartments, a six-unit multi-family community located in the City of Long Beach. Located at 1044 Cedar Avenue, this investment presents a stable, low expense, turn-key opportunity with a 5.1% CAP Rate and 7.2% total return on current income. The building is comprised of (1) large, four bedroom/ two bathroom house, (4) one bedroom/ one bathroom units, and (1) large, 1,000 square foot one bedroom/ one bathroom non-conforming unit. The property also offers amenities including an on-site laundry facility, gated yard, and ample on-site parking. The plumbing and electrical has also recently been updated. The City of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach Port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The Long Beach market has enjoyed strong rental growth and growing tenant demand over the past few years.

  • Property Class: Residential Income
  • Listing Status: Active
  • City: Long Beach
  • State: CA
  • Zip: 90813
  • Area: 4 - Downtown Area / Alamitos Beach
  • County: Los Angeles
  • Class: Residential Income
  • Baths (F/H): -- / --
  • Baths Partial: 0
  • Living Area (SqFt): 4,744 sqft
  • Lot Sq Ft Apx: 7451.00
  • Year Built: 1915
  • Listing#: OC18062886
  • Parcel Number: 7272005028
  • List Date: 3/19/2018
  • Last updated on: 5/25/2018

Property Features for 1044 Cedar Avenue, Long Beach CA 90813

  • Parking Features: On Site
  • Year Built: 1915
  • Community Features: Sidewalks, Storm Drains, Street Lighting
  • Zoning: LBPD10
  • Lot Desc: Front Yard, Landscaped, Near Public Transit
  • Pool: None

Additional Information for 1044 Cedar Avenue, Long Beach CA 90813

  • Expenses: 22496.00
  • Garage Style: On Site
  • Gross Building Area: 4744.00
  • Gross Income: 87600.00
  • Net Income: 62476.00
  • Rent Income: 7100.00
Courtesy of Greg Bassirpou, Marcus & Millichap Re Invest
Copyright 2018, California Regional Multiple Listing Service, Inc.. All Rights Reserved.
Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.