Closed | Beautifully Remodeled, Turnkey (7)-Unit Asset Located in Downtown Long Beach
Cameron Samimi of Lyon Stahl is pleased to have closed 1220 Cedar Ave, a beautifully remodeled, Turnkey (7)-unit asset located in Downtown Long Beach, 1220 Cedar Ave. is the perfect investment for any owner looking to own a stabilized and income-producing property.
This property sold for $1,900,000.
The Cedar apartments have undergone a complete renovation in 2020 and will be delivered at a 5.25% cap.
1220 Cedar Ave. is a sizeable 5,324 Sq. Ft and is comprised of (3) 2-bedroom/1-bath & (4) 1-bedroom/1-bath units.
All units are equipped with brand new bathrooms, kitchens, and flooring. Other interior upgrades include new dishwashers, air conditioning, and Quartz countertops.
Major systems upgrades feature a fully painted exterior, a full copper re-pipe, and a new electrical system. Additionally, there are (5) single-car garages at the rear of the property, as well as on-site laundry available for tenants.
The Cedar apartments have an ideal location only minutes from both the 710 Freeway and $6 Billion in development flowing to Downtown Long Beach.
This is a perfect opportunity for any buyer looking to own a pristine, stabilized, cash-flowing asset in the rapidly growing city of Long Beach.
More on this Property:
For Future Listings, Contact:
Cameron Samimi: [email protected]