1495 Cedar Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$2,375,000 USD
310-982-7055
1495 Cedar Ave, Long Beach, CA for Sale
$2,375,000 USD
Apartments - FOR SALE
1/19
null | 6.6% Cap Rate

1495 Cedar Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Super high yield 14-unit apartment opportunity at a 6.6% cap rate and 9.7X GRM on actual rents
  • $169k/door and qualifies for 73% LTV purchase financing
  • Significant recent renovations and capital improvements

OVERVIEW

- Super high yield 14-unit apartment opportunity at a 6.6% cap rate and 9.7X GRM on actual rents - At only $169k/door this property qualifies for 73% LTV purchase financing ($645K down) and will deliver an 8.9% cash on cash return at a 7% cap rate after only one rent increase - 12 studios and two 1BD/1BA units in 5,276 rentable square feet on a 7,419 square foot lot - Significant renovations and capital improvements done including new separately metered complete electrical system, foundation earthquake retrofit, and most interiors are remodeled - Community laundry room plus 5 garages for additional income or ADU potential

FOR SALE DETAILS

PRICE

$2,375,000 USD

PRICE/SF

$450 USD /SF

# OF UNITS

14

PRICE/UNIT

$169,643

CAP RATE

6.6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,418 SF

ZONING

R4N

APN/PARCEL ID

7269-041-008

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 Policy.