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1217 Cedar Ave
Long Beach, CA 90813 Downtown Long Beach

$2,499,000 USD

Apartments For Sale  •  8,820 SF

Property Details

  • Property Type Apartments
  • Total Building Size 8,820 SF
  • Lot Size 0.16 AC
  • Building Class C
  • Year Built 1923
  • Cap Rate 6.50 %
  • Zoning PD10, Long Beach
70 Transit Score
70 Walk Score

Highlights

PRICED TO SELL AT 9.7 GRM & 6.5% CAP WITH UPSIDE TO 6.8% CAP.
Excellent Unit mix of 8 studios and 6 1+1's.
Blocks from Downtown Long Beach where over $8BB of redevelopment has occured.
EMAIL LISITNG AGENT FOR MORE INFO INCLUDING A RR AND OM.
Excellent 5.05% Financing Available for Qualified Buyers. Earn over a 10% Cash on Cash Return against in place rents.
All units have updated flooring - some have updated baths and kitchens as well.

Financial Summary

Cap Rate: 6.50 %

Amenities

  • Courtyard
  • Laundry Facilities

Public Transportation

Transit/SubwayDriveWalkDistance
Anaheim Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 1 min 8 min 0.4 mi
Pacific Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 14 min 0.8 mi
5Th Street Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 17 min 0.9 mi
Pacific Coast Highway Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 18 min 1.0 mi
AirportDriveWalkDistance
Long Beach (Daugherty Field) 11 min - 4.8 mi
Los Angeles International 30 min - 21.2 mi
John Wayne/Orange County 32 min - 21.7 mi
Jon Swire 310-948-2631 The Agency
Jon Swire 310-948-2631 The Agency