2015 Cedar Ave - Apartments FOR SALE


Long Beach, CA 90806- Wrigley
$2,045,000 USD
949-942-8959
2015 Cedar Ave, Long Beach, CA for Sale
$2,045,000 USD
Apartments - FOR SALE
1/10
null | 6.61% Cap Rate

2015 Cedar Ave
Long Beach, CA 90806
Wrigley


HIGHLIGHTS

  • 7.64% Cash-on-Cash Return
  • Not Subject to Local City Rent Control
  • Updated Major Systems and Unit Interiors
  • Value Add Opportunity
  • Large 1 Bedroom and 2 Bedroom Units with Six Garages
  • On-Site Laundry Room

OVERVIEW

Skyline Commercial Advisors is pleased to present the opportunity to acquire the Cedar Ave Apartments located in the South 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. Recent improvements include an updated roof, electrical system, and unit interior renovations allowing for an investor to acquire a low maintenance building in a strong rental location. With rents slightly below market, this asset provides immediate cash-flow with a clear pathway to increasing income in a coastal market currently going through massive redevelopment.

FOR SALE DETAILS

PRICE

$2,045,000 USD

PRICE/SF

$283 USD /SF

# OF UNITS

10

PRICE/UNIT

$204,500

CAP RATE

6.61%

% 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
949-942-8959

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Ryan PrattSkyline Commercial Real EstateMore Info
949-942-8959

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