34
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$2,375,000
Est. payment /mo
5,276 SqFt
Active
1495 Cedar Avenue Long Beach, CA 90813
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,276 sqft
Price per Sqft $450
MLS Listing ID CRSB25099702
HOA Y/N No
Year Built 1923
Lot Size 7,419 Sqft
Acres 0.17
Property Sub-Type Other
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.
Location
State CA
County Los Angeles
Zoning LBR4
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate
Fireplace No
Laundry Other
Exterior
View Y/N false
View None
Building
Lot Description Other
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 7269041008
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Anthony Walker • Buckingham Investments, Inc