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Property Description

***Just reduced by $220,000***6.8% Cap Rate***SIX unit building just north of Downtown Long Beach. Property consists of a 4 bed 2 bath Craftsman single family home in front, and a rear building with 5 additional units (TWO 2bed 1 bath units, TWO 1 bed 1 bath units, and ONE non-conforming 2 bed 1 bath basement apartment). Amenities include on-site parking, on-site laundry for extra income, and an upstairs observation deck with 360-degree views of the San Gabriel Mountains, the Downtown skyline, and Palos Verdes Peninsula. All tenants are long-term multiple-year occupants on month-to-month rental contracts. These extremely well-performing units are all month to month with wonderful long-term tenants, a 6.8% Cap rate and tons of growth potential!

Features
: City Lights
2
1
: Individual Room, Common Area
0
: Curbs, Sidewalks, Storm Drains, Street Lights, Gutters
: Craftsman
Additional Information
Coldwell Banker Realty
0
SMCCATER
OC06716
Terry
7272005028
: Standard
43

Multi-Family For Sale

1044 Cedar Avenue, Long Beach, California 90813

4,766 Sqft
$1,275,000
Listing ID #OC23184659
Basic Details
Status : Active
DaysOnMarket : 188
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : OC23184659
Price : $1,275,000
Living Area : 4,766 Sqft
Lot Size : 7,451 Sqft
Year Built : 1915
Country : US
State : California
County : Los Angeles
City : Long Beach
Zipcode : 90813
Price Per Square Foot : $268
Subdivision : Other (OTHR)
ModificationTimestamp : 2024-04-08 09:09:12
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