1990 Cedar Ave - Apartments FOR SALE


Long Beach, CA 90806- Wrigley
$1,070,000 USD
818-795-4477
1990 Cedar Ave, Long Beach, CA for Sale
$1,070,000 USD
Apartments - FOR SALE
1/15
null | 4.83% Cap Rate

1990 Cedar Ave
Long Beach, CA 90806
Wrigley


HIGHLIGHTS

  • Spacious 1 bed, 1 bath units offers approximately 630 square feet of living space.
  • Functional layouts and the ability to add in-unit laundry for increased rental appeal and tenant retention.
  • Recent Cap Ex includes new roofs on both structures, upgraded electrical panel, seismic retrofit bolting and rebuilt front & rear staircases.
  • Close proximity to the 710, 405, & 91 freeways and public transportation options including the Metro Blue Line with direct access to downtown LB & LA.
  • Opportunity to capture 13% upside in rents
  • Property includes 2 large-tandem garages offering ADU development potential (buyer to verify).

OVERVIEW

Prime 4-Unit Investment Opportunity! Unlock exceptional potential with this well-positioned multifamily property located in the heart of the South Wrigley sub-market of Long Beach. Each of the spacious 1 bed, 1 bath units offers approx. 630 square feet of living space, with functional layouts. Recent Cap Ex includes new roofs on both structures, upgraded electrical panel, seismic retrofit bolting and rebuilt front & rear staircases. This property offers investors and owner-users alike the opportunity to capture an additional 13% upside in rents, in an area poised for continued appreciation. The property includes 2 large-tandem garages offering ADU development potential (buyer to verify). Close proximity to the 710, 405, & 91 freeways and public transportation options including the Metro Blue Line with direct access to downtown Long Beach & Los Angeles. South Wrigley is seeing a wave of transformation with ongoing infrastructure upgrades, new residential and mixed-use developments, and significant city investment in the surrounding area. Investors will benefit from being in the path of progress as Long Beach continues to revitalize and attract new residents and businesses alike. Whether you're looking to expand your portfolio or capitalize on a high-potential asset in one of Long Beach’s most promising neighborhoods, 1990 Cedar Ave. is a must-see!

FOR SALE DETAILS

PRICE

$1,070,000 USD

PRICE/SF

$425 USD /SF

# OF UNITS

4

PRICE/UNIT

$267,500

CAP RATE

4.83%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,206 SF

ZONING

LBR2N

APN/PARCEL ID

7209-023-001

ASK ABOUT THIS PROPERTY

Jeffrey IsenbergBuckingham InvestmentsMore Info
818-795-4477

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Jeffrey IsenbergBuckingham InvestmentsMore Info
818-795-4477

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