1220 Cedar Ave
Long Beach, CA 90813
Turnkey (7)-Unit, Downtown Long Beach · Multifamily Property For Sale
·
7 Units
Property Facts
| No. Units | 7 | Lot Size | 0.17 AC |
| Property Type | Multifamily | Building Size | 5,324 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1921/2020 |
| Building Class | C | Parking Ratio | 0.94/1,000 SF |
| Zoning | LBPD10 | ||
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,324 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1921/2020 |
| Parking Ratio | 0.94/1,000 SF |
| Zoning | LBPD10 |
About 1220 CEDAR AVE , LONG BEACH, CA 90813
Beautifully remodeled, Turnkey (7)-unit asset located in Downtown Long Beach, 1220 Cedar Ave. is the perfect investment for any owner looking to own a stabilized and income producing property. The Cedar apartments have undergone a complete renovation in 2020 and can be delivered Vacant, offering a 6% cap. 1220 Cedar Ave. is a sizeable 5,324 Sq.Ft and is comprised of (3) 2-bedroom/1-bath & (4) 1-bedroom/1-bath units. All units are equipped with brand new bathrooms, kitchens, and flooring. Other interior upgrades include new dishwashers, air conditioning, and Quartz countertops. Major systems upgrades feature a fully painted exterior, a full copper re-pipe, and new electrical system. Additionally, there are (5) single car garages at the rear of the property, as well as on-site laundry available for tenants. The Cedar apartments have ideal location only minutes from both the 710 Freeway and $6Billion in development flowing to Downtown Long Beach. This is a perfect opportunity for any buyer looking to own a pristine, stabilized, cash flowing asset in the rapidly growing city of Long Beach.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,595 | - |
| 2+1 | 3 | $1,895 | - |
Property Taxes
| Parcel Number | 7272-001-010 | Improvements Assessment | $719,817 |
| Land Assessment | $1,336,802 | Total Assessment | $2,056,619 |
Property Taxes
