Homes for sale - 1495 Cedar AVE, Long Beach, CA 90813

Additional details

JLee Broker

[email protected] +1(650) 857-1000

Listed by Anthony Walker • Buckingham Investments, Inc

$2,375,000

Est. payment - /mo

7,419 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRSB25099702

Style Mediterranean

Originating Board California Regional MLS

Year Built 1923

Lot Size 7,419 Sqft

Property Description

Super high yield 14-unit apartment opportunity at a 6.6% cap rate and 9.7X GRM on actual rents. At only $169k/door this property qualifies for 73% LTV purchase financing ($645K down) and will deliver an 8.9% cash on cash return at a 7% 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

Area 4 - Downtown Area, Alamitos Beach

Rooms

Kitchen Oven Range - Gas, Oven - Gas

Interior

Heating Wall Furnace

Cooling None

Flooring Laminate

Laundry Laundry Area

Exterior

Parking Features Garage

Garage Spaces 5.0

Pool 31, None

View None

Roof Type Flat / Low Pitch

Building

Foundation Raised

Water District - Public

Architectural Style Mediterranean

Others

Tax ID 7269041008

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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1495 Cedar AVE Long Beach, CA 90813

JLee Broker

Key Details

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Rooms

Interior

Exterior

Building

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