2015 Cedar Ave - Apartments FOR SALE


Long Beach, CA 90806- Wrigley
$2,000,000 USD
949-375-3661
2015 Cedar Ave, Long Beach, CA for Sale
$2,000,000 USD
Apartments - FOR SALE
1/2
null | 6.43% Cap Rate

2015 Cedar Ave
Long Beach, CA 90806
Wrigley


HIGHLIGHTS

  • Nearly 6.5% Cap Rate on Current Rents
  • Large One Bedroom and Two Bedroom Units
  • Six Garages
  • On-Site Laundry Room
  • Significant Value-Add Potential

OVERVIEW

Skyline Commercial Advisors is pleased to present the opportunity to acquire the Cedar Ave Apartments located in the Wrigley neighborhood of Long Beach. The property consists of large one bedroom and two bedroom units along with six garages and an on-site laundry room that both appeals to tenants and provides additional income. With rents slightly below market, the asset provides stable cashflow with a clear pathway to increasing income in a coastal market currently going through massive redevelopment.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$277 USD /SF

# OF UNITS

10

PRICE/UNIT

$200,000

CAP RATE

6.43%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,518 SF

ZONING

LBR2N

APN/PARCEL ID

7209-025-023

ASK ABOUT THIS PROPERTY

Ryan PrattSkyline Commercial Real EstateMore Info
949-375-3661

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Ryan PrattSkyline Commercial Real EstateMore Info
949-375-3661

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