1495 Cedar Avenue, Long Beach, CA 90813

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Glen Henderson

[email protected] +1(619) 889-7646

$2,250,000

Est. payment - /mo

4 Baths

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID SB25099702

Property Sub-Type Res Income 2-4 Units

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

Zoning Assessor

Direction North of Anaheim, West of Long Beach Blvd

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 7269041008

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Listed by Anthony Walker Buckingham Investments, Inc

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

1495 Cedar Avenue Long Beach, CA 90813

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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