1439 Cedar, Long Beach, CA 90813
- $2,895,000
- List Price
- $2,895,000
- Status
- ACTIVE
- Days on Market
- 1
- MLS#
- SB26175498
- Subtype
- Residential Income
- Style
- Spanish
- Year Built
- 1928
- Lot Size
- 7,435
- Acres
- 0.17
- Subdivision
- Washington
- Neighborhood
- Washington
- MLS Area Major
- Downtown Area, Alamitos Beach (4)
Property Description
1439 Cedar Avenue is a 16-unit apartment building with substantial remodeling and improvements. This property boasts a 9.01X GRM and a 6.5% cap rate off actuals. While this property has the charm of the 1920's with its higher ceilings and arched architecture, many of the systems and units have been upgraded/improved. The main electrical panel was upgraded in the 1990s. All the hot and cold-water supply lines were replaced in 2021. Prior to current ownership, the mail drain line was replaced with ABS in the larger than average crawlspace and substantial improvements were made to the foundation. All the units feature vinyl plank and ceramic-type tile flooring. Some units have had kitchen remodels with newer cabinets and quartz countertops. Pretty good mix of open floor plans and units with large walk-in closets. There are stairs leading to the roof for easy access and maintenance. There is on-site laundry and 4 garage spots which are rented for additional income. This property is located directly across the street from Washington Middle School which is currently undergoing a $176 million reconstruction process. It is conveniently located close to the 710 freeway, downtown Long Beach, and city transportation. 1439 Cedar Avenue offers steady cash flow with limited capital expenditure risk in a dense rental market.
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Additional Information
- Property Description
- Spanish
- Flooring
- Vinyl
- Appliances
- Gas Range, Refrigerator
- Heating
- Wall Furnace
- Exterior Construction
- Stucco, Copper Plumbing
- Stories
- Two Levels
- Levels
- Two
- Roof
- Flat
- Pool Type
- None
- Garage Spaces
- 4
- View
- None
Mortgage Calculator
Listing courtesy of Listing Agent: Todd Slatcher (todd.slatcher@gmail.com) from Listing Office: Jamison Management Company.
Based on information from California Regional Multiple Listing Service, Inc. as of . 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.