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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$2,375,000
Est. payment /mo
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4 Baths
7,419 Sqft Lot
Active

1495 Cedar Avenue Long Beach, CA 90813

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Barbara Truglio

Barbara Truglio

+1(760) 809-6548

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25099702

HOA Y/N No

Lot Size 7,419 Sqft

Property Sub-Type Res Income 2-4 Units

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.
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 Long Beach (90813)

Zoning Assessor

Exterior

Exterior Feature Stucco

Building

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 2 Story

Others

Monthly Total Fees $187

Space Rent $1,300

San Diego Regional MLS (SDMLS)
Listed by Anthony Walker • Buckingham Investments, Inc

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agent

Barbara Truglio

Agent | License ID: 01907988

+1(760) 809-6548

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1495 Cedar Avenue

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