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1526-1532 Cedar Ave 6 Unit Apartment Building $1,150,000 ($191,667/Unit) 6.35% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Immediate upside delivered with 1 vacant unit with 54% rental upside.
- ADU potential, 7,735 sqft lot. (Buyer to Verify)
- (1) 2 bed +1 bath | (5) 1 bed + 1 bath unit mix.
- 6.35% CAP Rate | 10.1 GRM
- Price per unit at 190k per door.
EXECUTIVE SUMMARY
1526 Cedar Avenue is a six-unit multifamily asset located in the Washington District of Long Beach, offering investors a true value-add opportunity with multiple paths to increase income and long-term value. Sitting on a large 7,735 square foot lot, the property provides the potential to add an ADU by converting the detached garages or utilizing the middle section of the lot, which would significantly boost future income (Buyer to Verify). In addition, the building features one vacant unit that allows a new owner to capture market rent immediately, while the property overall offers approximately 54% rental upside. The unit mix consists of (1) two-bedroom, one-bath unit and (5) one-bedroom, one-bath units. The property is also well-positioned near George Washington Middle School, which is currently undergoing a $175 million modernization project that will drive continued neighborhood improvement and tenant demand. Altogether, 1526 Cedar presents investors with the chance to capitalize on immediate income growth, long-term development potential, and the benefits of a rapidly gentrifying area.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $191,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.35% | Building Size | 4,464 SF |
| Gross Rent Multiplier | 10.19 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1926 |
| Property Type | Multifamily | Parking Ratio | 0.67/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R4N - Multiple Dwelling | ||
| Price | $1,150,000 |
| Price Per Unit | $191,667 |
| Sale Type | Investment |
| Cap Rate | 6.35% |
| Gross Rent Multiplier | 10.19 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 4,464 SF |
| No. Stories | 2 |
| Year Built | 1926 |
| Parking Ratio | 0.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4N - Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Balcony
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $2,300 | 600 |
| 1+1 | 1 | $1,469 | 600 |
| 1+1 | 1 | $1,571 | 600 |
| 1+1 | 1 | $1,648 | 600 |
| 1+1 | 1 | $1,564 | 600 |
| 1+1 | 1 | $1,469 | 600 |
1 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 7269-002-009 | Improvements Assessment | $546,836 (2025) |
| Land Assessment | $360,551 (2025) | Total Assessment | $907,387 (2025) |
PROPERTY TAXES
Parcel Number
7269-002-009
Land Assessment
$360,551 (2025)
Improvements Assessment
$546,836 (2025)
Total Assessment
$907,387 (2025)
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1526-1532 Cedar Ave
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