Log In/Sign Up
Your email has been sent.
2015 Cedar Ave 10 Unit Apartment Building $2,000,000 ($200,000/Unit) 6.43% Cap Rate Long Beach, CA 90806
INVESTMENT HIGHLIGHTS
- Nearly 6.5% Cap Rate on Current Rents
- Six Garages
- Significant Value-Add Potential
- Large One Bedroom and Two Bedroom Units
- On-Site Laundry Room
EXECUTIVE SUMMARY
Skyline Commercial Advisors is pleased to present the opportunity to acquire the Cedar Ave Apartments located in the Wrigley neighborhood of Long Beach. The
property consists of large one bedroom and two bedroom units along with six garages and an on-site laundry room that both appeals to tenants and provides
additional income. With rents slightly below market, the asset provides stable cashflow with a clear pathway to increasing income in a coastal market currently going
through massive redevelopment.
property consists of large one bedroom and two bedroom units along with six garages and an on-site laundry room that both appeals to tenants and provides
additional income. With rents slightly below market, the asset provides stable cashflow with a clear pathway to increasing income in a coastal market currently going
through massive redevelopment.
PROPERTY FACTS
| Price | $2,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.43% | Building Size | 7,226 SF |
| Gross Rent Multiplier | 10.95 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1956 |
| Property Type | Multifamily | Parking Ratio | 0.83/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LBR2N | ||
| Price | $2,000,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 6.43% |
| Gross Rent Multiplier | 10.95 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 7,226 SF |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 0.83/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LBR2N |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
| 2+2 | 1 | - | - |
1 1
Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 7209-025-023 | Improvements Assessment | $258,659 |
| Land Assessment | $125,404 | Total Assessment | $384,063 |
PROPERTY TAXES
Parcel Number
7209-025-023
Land Assessment
$125,404
Improvements Assessment
$258,659
Total Assessment
$384,063
1 of 3
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
2015 Cedar Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.