1415 Cedar Ave, Long Beach, CA 90813

1415 Cedar Ave, Long Beach, CA 90813

Long Beach, CA

Property Description

Lyon Stahl Investment Real Estate is pleased to present 1415 Cedar Ave, a ten-unit apartment building in Long Beach, California. Located just outside of Downtown Long Beach with proximity to the A Line (22-mile light rail line), Pacific Coast Highway, and the 405 & 710 freeways. The asset boasts a 86 walk score providing tenants access to a variety of popular dining, retail, entertainment options, and high-paying employment opportunities. The subject property is a two-story apartment building built in 1949. The ten-unit apartment building is comprised of five (5) two-bed/one-bath, three (3) one-bed/one-bath, and two (2) studio/one-bath spacious units totaling 6,922 square feet. The building offers amenities including secure gated access, five (5) garages, on-site laundry, and all units are separately metered for gas & electricity. Recent capital improvements include, but are not limited to, copper plumbing, updated electrical, roof, paint, ceramic tile floors, countertops, and appliances. 1415 Cedar Avenue provides an investor with the opportunity to own an improved asset in one of the most desired rental neighborhoods and fastest-growing markets in Southern California. The asset offers a strong in-place income and has over 25% potential upside in rents.

Property Features

  • Sale Price: $2,195,000
  • Area Size: 6,922 SF
  • Land Area: 6,600 SF
  • Year Built: 1949
  • Listing Date: 10/19/20
  • Closing Date: 3/26/2021
  • Units: 10
  • Price Per Unit: $219,500
  • Current NOI: $107,320

Lyon Stahl Investment Real Estate

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