USACALong BeachOther (Othr)1425 Cedar Ave
1425 Cedar Ave, Condo with 0 bedrooms, 0 bathrooms and 4 parking in Long Beach CA | Image 1
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$2,195,000

1425 Cedar Ave, Long Beach, CA

Condo

For Sale

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  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage Yes
Maintenance Fees $6,000
Taxes 
Days Active 0
Approx. Age 1953
MLS® Number PW25151840

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

1425 Cedar Avenue is a 10- unit apartment asset located in the Washington District of Long Beach. The value-add opportunity is priced at 10.57 GRM and 6% Cap Rate at current rents and 7.76 GRM and a 9.16% Cap Rate at market rents. In addition to the 32% of rental upside, a buyer has the ability to add four (4) studio ADU’s to the back garages. ADU plans are ready to be submitted to the city of Long Beach for approval. After ADU construction, the GRM projects to be 6.06 with a Cap Rate above 11%. The current property is comprised of (8) 1 Bed/1Bath units and (2) 2 Bed/1 Bath units with some units lightly renovated with new flooring and updated kitchen and bathrooms. With a Walk Score of 84, the property is ideally positioned for tenant convenience, offering close proximity to a wide range of amenities, including shops, restaurants, and entertainment venues. Directly across the street is Washington Middle School, which is currently undergoing a massive $176 million reconstruction project that will further improve its vibrant neighborhood. 1425 Cedar Avenue offers investors a well-maintained asset with upside in an infill location experiencing continued growth and revitalization.Show Description
MLS® NumberPW25151840
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelCommon Area
Exposure
Exterior
GarageYes
Approx. Age1953
Stories2
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

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