CA > Long Beach
Long Beach, CA 90813,1495 Cedar Avenue
Long Beach, CA 90813,1495 Cedar Avenue
Long Beach, CA 90813,1495 Cedar Avenue
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Deeana Owens

Deeana Owens

+1(678) 250-3471
Listed by Anthony Walker • Buckingham Investments, Inc
$2,250,000
Est. payment /mo
5,276 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Other

Listing Status Pending

Purchase Type For Sale

Square Footage 5,276 sqft

Price per Sqft $426

MLS Listing ID CRSB25099702

HOA Y/N No

Year Built 1923

Lot Size 7,419 Sqft

Property Sub-Type Other

Source Datashare California Regional

Property Description

Just reduced! Super high yield 14-unit apartment opportunity at a 7% cap rate and 9.2X GRM on actual rents. At only $160k/door this property qualifies for 75% LTV purchase financing ($562K down) and will deliver an 11% cash on cash return at a 7.5% cap rate after only one rent increase. 12 studios and two 1BD/1BA units in 5,276 rentable square feet on a 7,419 square foot lot. Significant renovations and capital improvements done including new separately metered complete electrical system, foundation earthquake retrofit, and most interiors are remodeled. Community laundry room plus 5 garages for additional income or ADU potential. Convenient location in the Washington neighborhood directly across the street from Washington Middle School, currently undergoing a massive $176 million reconstruction project. Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 billion. Over 60% of households within 5 miles are renters with an average household income of over $94,000 (CoStar). Walk Score 86/100.

Location

State CA

County Los Angeles

Interior

Heating Wall Furnace

Cooling None

Flooring Laminate

Fireplace No

Laundry Other

Exterior

View None

Building

Lot Description Other

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Bay East AOR and Contra Costa AOR
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agent

Deeana Owens

+1(678) 250-3471

Broker | Owner | CA BRE#CA: 02015510, GA: 295613

Broker | Owner CA BRE#CA: 02015510, GA: 295613

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