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1425 Cedar Ave
Long Beach, CA 90813 Downtown Long Beach

$2,100,000 USD

Apartments For Sale  •  6,222 SF

Property Details

  • Property Type Apartments
  • Total Building Size 6,222 SF
  • Lot Size 0.15 AC
  • Building Class C
  • Year Built 1953
  • Zoning R4N, Long Beach
69 Transit Score
88 Walk Score

Highlights

Outstanding opportunity to acquire an asset with an attractive going-in cap rate of 6.30%, 27 percent rental upside, and ADU potential
10-Unit apartment building with a mix of eight one-beds and two two-beds | select units have been remodeled
Plans have been drafted to convert the four single-car garages to four one-bedroom ADU’s
Located directly across from the $176M, five-acre rebuild of Washington Middle School
Numerous development projects nearby demonstrate investor confidence in this submarket where rental demand is consistently strong

Property Flyers

Public Transportation

Transit/SubwayDriveWalkDistance
Anaheim Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 11 min 0.6 mi
Pacific Coast Highway Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 15 min 0.8 mi
Pacific Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 4 min 19 min 1.0 mi
AirportDriveWalkDistance
Long Beach (Daugherty Field) 11 min - 4.5 mi
Los Angeles International 31 min - 21.0 mi
John Wayne/Orange County 34 min - 22.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 4
Type: OneCarGarage
Included in Rent: Yes
Steve Bogoyevac 424-405-3826 Marcus & Millichap
Steve Bogoyevac 424-405-3826 Marcus & Millichap