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Property Description

Discover a prime opportunity in the heart of Downtown Long Beach with this unique offering of three Own-Your-Own units at 619 Cedar Avenue. This bundle includes two studio apartments and a single 1-bedroom unit. Perfectly positioned within walking distance to Pine Avenue’s vibrant dining and entertainment scene, and close to metro rail services, these units are primed for solid rental demand. Currently, rents are below market value, offering significant upside potential with a proforma cap rate of 6.5%. Ideal for those looking to capitalize on Long Beach’s dynamic rental market, these units present a chance to secure a low-maintenance property with a high return on investment.

Features
1
1
: Community
0
: Urban
Additional Information
Pacific Sotheby's Int'l Realty
0
OCKelamar
OC07358
Mark
7272022038
: Standard
56

Multi-Family For Sale

619 Cedar Avenue, Long Beach, California 90802

1,526 Sqft
$600,000
Listing ID #OC24078744
Basic Details
Status : Active
DaysOnMarket : 0
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : OC24078744
Price : $600,000
Living Area : 1,526 Sqft
Lot Size : 7,501 Sqft
Year Built : 1955
Country : US
State : California
County : Los Angeles
City : Long Beach
Zipcode : 90802
Price Per Square Foot : $393
Subdivision : Downtown (DT)
ModificationTimestamp : 2024-04-19 18:08:38
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