Description
1439 Cedar Avenue is a 16-unit apartment building with substantial remodeling and improvements. This property boasts a 9.01X GRM and a 6.5% cap rate off actuals. While this property has the charm of the 1920's with its higher ceilings and arched architecture, many of the systems and units have been upgraded/improved. The main electrical panel was upgraded in the 1990s. All the hot and cold-water supply lines were replaced in 2021. Prior to current ownership, the mail drain line was replaced with ABS in the larger than average crawlspace and substantial improvements were made to the foundation. All the units feature vinyl plank and ceramic-type tile flooring. Some units have had kitchen remodels with newer cabinets and quartz countertops. Pretty good mix of open floor plans and units with large walk-in closets. There are stairs leading to the roof for easy access and maintenance. There is on-site laundry and 4 garage spots which are rented for additional income. This property is located directly across the street from Washington Middle School which is currently undergoing a $176 million reconstruction process. It is conveniently located close to the 710 freeway, downtown Long Beach, and city transportation. 1439 Cedar Avenue offers steady cash flow with limited capital expenditure risk in a dense rental market.
Details
| MLS # | SB26175498 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1928 |
| Days On Site | 21 |
| Listing Provided By | Jamison Management Company | Todd Slatcher |
Features
| SQ Feet | 10,800 |
|---|---|
| Garage | 4 |
| Story(s) | 2 |
| Units | 16 |
| Building(s) | 2 |
| Acreage | 0.17 |
| Property View | None |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Window Features | Double Pane Windows, Wood Frames |
| Appliances | Gas Range, Refrigerator |
| Fireplace Yes / No | No |
Exterior
| Roof | Flat |
|---|---|
| Security Features | Carbon Monoxide Detectors, Resident Manager, Smoke Detectors |
| Construction Materials | Stucco, Copper Plumbing |
| Foundation Details | Raised |
| Lot Features | Rectangular Lot |
| Fencing | Wood |
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Electric | Standard |
| Sewer | Public Sewer |
Location
| Community Features | Park, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | Washington |
| Listing VS Median (in Washington) | |
Price: $2,895,000 low | high Med: $2,097,000 sqft: 10,800 low | high Med: 7,692 $ / sqft: $268 low | high Med: $276 On site: 21 low | high Med: 11.5 | |
Market Activity 90813
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | Washington |
| Listing VS Median (in Washington) | |
Price: $2,895,000 low | high Med: $2,097,000 sqft: 10,800 low | high Med: 7,692 $ / sqft: $268 low | high Med: $276 On site: 21 low | high Med: 11.5 | |
 | $2,279,0001217 Cedar AvenueLong Beach, CA 90813 |