Address
1439 Cedar Avenue Long Beach, CA
Price
$ 3,095,000
Property Attributes
  • MLS#20640540
  • TypeIncome
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaDowntown Area - Alamitos Beach
  • Zip90813
  • Style
  • Price$ 3,095,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size7,405 SqFt
Listing Provided Courtesy Of:
Jonathan Swire with The Agency
Property Description

BEST PRICED DEAL IN ALL OF LOS ANGELES - UNDER 11.8X GRM with upside to a 5.9% CAP and 10.8X GRM. 16 units located in Long Beach. All units are 1 bed/1 bath. The property is professionally managed and and all units have been remodeled. The current owner has spent over $225,000 on improvements including new landscaping, new water heater and completely remodeled all unit interiors. Unit interiors received new paint, laminate flooring, ceaserstone countertops and new fixtures. This is a perfect asset for someone looking to acquire a rehabbed, stabilized property that is cash flowing. Additionally, there is some rental upside by leveling the rents at market. 9 of 16 tenants are government subsidy (Section 8, Brilliant Corners or US Vets) meaning over 50% of your monthly income is guaranteed to be paid and not subject to potential COVID hardship issues. Earn over 9% cash on cash against in place rents. Contact LA for more info including a setup and Rent Roll.

Price History
10/2/2020 Listed $3,095,000

General Features

Cooling None
Directions By Anaheim and Cedar in Long Beach.
Garage Spaces 4.00
Listagentaor Beverly Hills/Greater LA
Listing Agent Jonathan Swire - BRE#01336277
Listing Agent State License 01336277
MLS Area 4 - Downtown Area, Alamitos Beach
Source System CRMLS
Special Listing Conditions Standard
Total Units 16
Zoning LBR4N

Interior Features

Total Stories 2

Exterior Features

Lot Size Acres 0.1700
Lot Size Area 7433.0000
Lot Size Square Feet 7433.00
Lot Size Units Square Feet
Number of Buildings 1
Total Parking 4.00

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90813

Price
AVG $1.62M
$3.1M
Visits
AVG 53
4
Year Built
AVG 1933
1928
Walkscore
AVG 92
86
Data Provided by Walkscore ® not using MLS data

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