1439 Cedar, Long Beach, CA 90813
1439 Cedar, Long Beach, CA 90813
1439 Cedar, Long Beach, CA 90813
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$2,895,000
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7,435 Sqft Lot
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1439 Cedar Long Beach, CA 90813

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Patrick Fossati

Patrick Fossati

+1(805) 910-0463

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Washington

MLS Listing ID SB26175498

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1928

Lot Size 7,435 Sqft

Property Sub-Type Apartment

Property Description

1439 Cedar Avenue is a 16-unit apartment building with substantial remodeling and improvements. This property boasts a 9.01X GRM and a 6.5% cap rate off actuals. While this property has the charm of the 1920's with its higher ceilings and arched architecture, many of the systems and units have been upgraded/improved. The main electrical panel was upgraded in the 1990s. All the hot and cold-water supply lines were replaced in 2021. Prior to current ownership, the mail drain line was replaced with ABS in the larger than average crawlspace and substantial improvements were made to the foundation. All the units feature vinyl plank and ceramic-type tile flooring. Some units have had kitchen remodels with newer cabinets and quartz countertops. Pretty good mix of open floor plans and units with large walk-in closets. There are stairs leading to the roof for easy access and maintenance. There is on-site laundry and 4 garage spots which are rented for additional income. This property is located directly across the street from Washington Middle School which is currently undergoing a $176 million reconstruction process. It is conveniently located close to the 710 freeway, downtown Long Beach, and city transportation. 1439 Cedar Avenue offers steady cash flow with limited capital expenditure risk in a dense rental market.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Heating Wall Furnace

Cooling None

Flooring Vinyl

Fireplaces Type None

Fireplace No

Appliance Gas Range, Refrigerator

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Fence Wood

Pool None

Community Features Park, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Flat

Total Parking Spaces 4

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Entry Level Two

Foundation Raised

Sewer Public Sewer

Water Public

Architectural Style Spanish

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 7269041017

Security Features Carbon Monoxide Detector(s),Resident Manager,Smoke Detector(s)

Acceptable Financing Conventional, 1031 Exchange

Listing Terms Conventional, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Todd Slatcher Jamison Management Company 310-897-0224, DRE #01456645

NEARBY SCHOOL & BUSINESS

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Patrick Fossati

Patrick Fossati

Broker Associate License ID: 01907255

+1(805) 910-0463

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