$1,275,000 - 1044 Cedar Avenue, Long Beach

  • 12Beds
  • 7Baths
  • 0SQ. Feet
  • 0.17Acres

***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!

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Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:OC23184659
  • Price:$1,275,000
  • Bedrooms:12
  • Bathrooms:7.00
  • Acres:0.17
  • Year Built:1915
  • Type:Residential Income
  • Sub-Type:Quadruplex
  • Style:Craftsman
  • Status:Active
  • Listing Agent:Terry Mccarty
  • Listing Office:Coldwell Banker Realty

Community Information

  • Address:1044 Cedar Avenue
  • Area:4 - Downtown Area, Alamitos Beach
  • Subdivision:Other
  • City:Long Beach
  • County:Los Angeles
  • Zip Code:90813

Amenities

  • Utilities:Cable Available, Electricity Connected, Sewer Connected, Water Connected, Natural Gas Connected
  • Parking:Concrete, Driveway, On Site, Private
  • Garages:Concrete, Driveway, On Site, Private
  • View:City Lights
  • Pool:None

Interior

  • Interior Features:Ceiling Fan(s)
  • Cooling:None
  • Fireplace:Yes
  • Fireplaces:Living Room
  • # of Stories:2

Exterior

  • Lot Description:Back Yard, Front Yard, Level
  • Roof:Composition

Additional Information

  • Date Listed:October 3rd, 2023
  • Days on Market:208
  • Zoning:LBPD10

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Based on information from California Regional Multiple Listing Service, Inc. as of April 28th, 2024 at 11:50pm CDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.