1516 Cedar Ave, Long Beach, CA 90813

1516 Cedar Ave, Long Beach, CA 90813
  • $1,575,000

Description

Lyon Stahl Investment Real Estate is pleased to present 1516 Cedar Ave, a meticulously renovated apartment complex in Long Beach, California. The seller spent roughly $250,000 on a full remodel completed in 2019. Located in the path of progress as there are over 750 new construction units within a .25 mile radius. The subject property offers five spacious units comprised of two (2) 3-bd/1-ba, two (2) 2-bd/1-ba, and one (1) 1-bd/1-ba across two buildings totaling 4,495 square feet. Situated on an oversized 8,046 square foot lot, 1516 Cedar boasts an 87 walk score and has a courtyard with drought-resistant landscaping providing a desirable open-air space for the residents. Every unit has brand-new front-loading washers and dryers and there are four (4) garages. Extensive interior renovations at a cost of over $35,000/unit include all new copper plumbing, electrical wiring & meters, kitchens, bathrooms, doors, drywall, flooring, paint, trim, lighting, and fixtures throughout. Exterior renovations include new roofing, paint, rear stairway, dual pane & double-hung windows, garage doors, and removal of several trees. 1516 Cedar Avenue’s location, cashflow, and high-end renovations provide an investor with the opportunity to own a brand-new condition asset that will minimize their cost and maximize their return over a long investment horizon.

  • City Long Beach
  • State/county CA

Details

Updated on October 28, 2020 at 7:58 am
  • Price: $1,575,000
  • Property Size: 4,495 Sq Ft
  • Land Area: 8,046 Sq Ft
  • Year Built: 1915
  • Property Type: Multifamily
  • Property Status: Active

Overview

  • Multifamily
  • Property Type
  • 4,495
  • Sq Ft
  • 1915
  • Year Built

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