1044 Cedar Ave
Long Beach, CA 90813
Multifamily Property For Sale
·
6 Units
Property Facts
| No. Units | 6 | Lot Size | 0.17 AC |
| Property Type | Multifamily | Building Size | 4,744 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1915/1945 |
| Building Class | C | Parking Ratio | 1.05/1,000 SF |
| Zoning | PD-10 - Planned Development | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,744 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1915/1945 |
| Parking Ratio | 1.05/1,000 SF |
| Zoning | PD-10 - Planned Development |
Amenities
Unit Amenities
- Air Conditioning
About 1044 CEDAR AVE , LONG BEACH, CA 90813
Marcus & Millichap is pleased to present the Cedar Avenue Apartments, a six-unit multi-family community located in the City of Long Beach. Located at 1044 Cedar Avenue, this investment presents a stable, low expense, turn-key opportunity with a 5.1% CAP Rate and 7.2% total return on current income. The building is comprised of (1) large, four bedroom/ two bathroom house, (4) one bedroom/ one bathroom units, and (1) large, 1,000 square foot one bedroom/ one bathroom non-conforming unit. The property also offers amenities including an on-site laundry facility, gated yard, and ample on-site parking. The plumbing and electrical has also recently been updated. The City of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach Port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The Long Beach market has enjoyed strong rental growth and growing tenant demand over the past few years.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $850.00 | 625 - 1,000 |
| 4+2 | 1 | $2,650 | 1,244 |
Property Taxes
| Parcel Number | 7272-005-028 | Improvements Assessment | $400,000 |
| Land Assessment | $750,000 | Total Assessment | $1,150,000 |
Property Taxes
