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1605 Cedar Ave

Long Beach, CA 90813
  • $1,898,000
  • STATUS: Active
  • ON SITE: 35 Days
  • MLS #: 21-794520
UPDATED: 55 min ago
$1,898,000
  • 14
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,623
    SQFT
  • $338
    $/SQFT
Type:
Multi-Family
Built:
1906
County:

School Ratings & Info

Description

We are excited to present this new four unit apartment building in the City of Long Beach. This huge fourplex consists of over 5,000 square feet and was originally constructed in 1906. There is an unusual unit mix of three 3 bedroom units and a 5 bedroom 2 bath unit. The current income is almost $12,000 per month. The two story 5 bedroom unit has been remodeled and the rent for that unit is projected at $3,850 per month. The other three units are producing $2,650 per month, each. The structures are situated on a large, 7,554 square foot lot that is zoned LBR4N. There are four, one car garages at the rear of the lot with alley access. With a GRM of only 13.4 and a 5.20 CAP rate, this one is priced to sell. Please do not walk on property or disturb tenants. Please make offers subject to inspection and provide proof of funds with your offers.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T16:42:55.003. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/122766115
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1605 Cedar Ave Long Beach, CA 90813

  • Price: $1,898,000
  • Status: Active
  • On Site: 35 Days
  • Updated: 55 min ago
  • MLS #: 21-794520
14
Beds
0
Baths
0
½ Baths
0.17
Acres
5,623
SQFT
$338
$/SQFT
1906
Built
Neighborhood:
Downtown Area, Alamitos Beach
County:
Los Angeles
Area:
Downtown Area, Alamitos Beach
Property Description
We are excited to present this new four unit apartment building in the City of Long Beach. This huge fourplex consists of over 5,000 square feet and was originally constructed in 1906. There is an unusual unit mix of three 3 bedroom units and a 5 bedroom 2 bath unit. The current income is almost $12,000 per month. The two story 5 bedroom unit has been remodeled and the rent for that unit is projected at $3,850 per month. The other three units are producing $2,650 per month, each. The structures are situated on a large, 7,554 square foot lot that is zoned LBR4N. There are four, one car garages at the rear of the lot with alley access. With a GRM of only 13.4 and a 5.20 CAP rate, this one is priced to sell. Please do not walk on property or disturb tenants. Please make offers subject to inspection and provide proof of funds with your offers.
Exterior Features

Lot Size Area 7554 Other Structures None Parking Garage GarageGarage Is Detached Style Spanish Total Parking 4 View Description None View YN No

Interior Features

Baths Total 5.00 Cooling None Equipment None Heating Wall

Property Features

Assessed Total Value 232120 Gross Income 141600 Gross Operating Income 138768 Like Units1 1 Like Units2 3 Net Operating Income 98743.00 Number Of Buildings 2 Number Of Units 4 Sale Type Standard Source Living Area Assessor Source Lot Size Area Vendor Enhanced Total Annual Expense 40025 Type Of Units Apartment Year Built Source Vendor Enhanced Zoning Lbr4n

Listing provided courtesy of Jerome McAlpin DRE#00939725 of Mcalpin & Company.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T16:42:55.003. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210