1415 Cedar Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$2,095,000 USD
310-982-7055
1415 Cedar Ave, Long Beach, CA for Sale
$2,095,000 USD
Apartments - FOR SALE
1/26
null | 6.21% Cap Rate

1415 Cedar Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Convenient location in the Washington neighborhood across the street from Washington Middle School, currently undergoing a $176M reconstruction
  • Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway
  • Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion
  • Over 60% of household within 5 miles are renters with an average household income of over $94,000

OVERVIEW

Large high yield postwar 10 unit property in a dense high demand rental area of Long Beach. Great unit mix with five 2 bed/1 bath units, four 1 bed/1 bath units, and one studio in nearly 7,000 square feet of rentable space. High in-place cash flow at close with actual rents at 9.59X gross and a 6.2% cap rate plus a 12% upside to 8.43X GRM and a 7.4% cap rate at market. Community laundry room plus 5 garages for additional income or ADU conversion potential. All windows recently replaced in 2025.

FOR SALE DETAILS

PRICE

$2,095,000 USD

PRICE/SF

$303 USD /SF

# OF UNITS

10

PRICE/UNIT

$209,500

CAP RATE

6.21%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R4N, Long Beach

APN/PARCEL ID

7269-041-027

ASK ABOUT THIS PROPERTY

Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.