Property listed by Keller Williams Pacific Estates, Julio Bonilla 562-355-8060
$2,049,000
Great income at 8.1% cap rate! Beautiful Craftsmen Available in Downtown Long Beach! Discover an exceptional investment opportunity at 833
Cedar Avenue, a prominent 8-unit apartment building located in the heart of Long Beach. This unique multifamily property, just 5 minutes from the
beach, boasts two buildings with a total of 6,494… Read More square feet situated on a generous 7,506 square foot lot, offering significant rental income
potential Recent upgrades enhance this property's appeal, including 100% new plumbing installed three to four years ago and new vinyl windows
throughout. The conversion to electric heaters means tenants now cover their own heating costs, as they pay for electricity. Strategically zoned
LBPD10, this property benefits from one of Long Beach's most desirable and flexible planning districts, allowing for higher density development.
This prime location provides residents with excellent access to downtown Long Beach amenities, including diverse dining, entertainment,
shopping, and public transportation options. With its robust unit count, considerable square footage, advantageous zoning, and recent
improvements, 833 Cedar Avenue is an ideal acquisition for investors seeking a strong performing asset with potential for future upside in a
dynamic Long Beach market Read Less
Listing Snapshot
Days Online
43
Last Updated
Property Type
MultiFamily
Square Ft.
6,494
Lot Size
0.17 Acres
Year Built
1931
MLS Number
DW26015025
Additional Details
Building
Built in 1931, 2 buildings, 2 stories, Entry level: 1
Expenses
Insurance: $6,500, Operating: $28,514, Other Expense: $1,800
Heating
Electric, NaturalGas
Income
Gross ScheduledIncome: $194,976, Net Operating Income: $166,462
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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