833 Cedar Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$2,050,000 USD
562-355-8060
833 Cedar Ave, Long Beach, CA for Sale
$2,050,000 USD
Apartments - FOR SALE
1/5
null | 8.34% Cap Rate

833 Cedar Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • 9 Mins to the Beach
  • LBPD Zoning

OVERVIEW

Beautiful Craftsmen Available in Downtown Long Beach! Discover an exceptional investment opportunity at 833 Cedar Avenue, a prominent 8-unit apartment building located in the heart of Long Beach. This unique multifamily property, just nine minutes from the beach, boasts two buildings with a total of 6,494 square feet situated on a generous 7,506 square foot lot, offering significant rental income potential Recent upgrades enhance this property's appeal, including 100% new plumbing installed three to four years ago and new vinyl windows throughout. The conversion to electric heaters means tenants now cover their own heating costs, as they pay for electricity. Strategically zoned LBPD10, this property benefits from one of Long Beach's most desirable and flexible planning districts, allowing for higher density development. This prime location provides residents with excellent access to downtown Long Beach amenities, including diverse dining, entertainment, shopping, and public transportation options. With its robust unit count, considerable square footage, advantageous zoning, and recent improvements, 833 Cedar Avenue is an ideal acquisition for investors seeking a strong performing asset with potential for future upside in a dynamic Long Beach market

FOR SALE DETAILS

PRICE

$2,050,000 USD

PRICE/SF

$316 USD /SF

# OF UNITS

8

PRICE/UNIT

$256,250

CAP RATE

8.34%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1931

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,505 SF

ZONING

PD10

APN/PARCEL ID

7272-014-010

ASK ABOUT THIS PROPERTY

Julio BonillaKw Commercial-Long BeachMore Info
562-355-8060

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Julio BonillaKw Commercial-Long BeachMore Info
562-355-8060

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