About 1217 Cedar Ave
14 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Priced at 11.3X GRM and 5.6% CAP on current rents - with upside to a 5.9% CAP. The property is professionally managed and well maintained. Some units have updated kitchens, baths and flooring. The property also just received updated landscaping and paint. The building features and excellent unit mix for the area and is located blocks from $8BB worth of redevelopment in the Down Town Long Beach area. There is no onsite parking but there is onsite laundry. The electrical is Siemens - it's a 200 AMP main panel with 30 AMP subpanels (Buyer to verify). EMAIL LA FOR MORE INFO INCLUDING A CURRENT RENT ROLL AND ACTUAL EXPENSES.
Features of 1217 Cedar Ave
| MLS® # | 24-385989 |
|---|---|
| Price | $2,895,000 |
| Bedrooms | 6 |
| Bathrooms | 14.00 |
| Square Footage | 8,086 |
| Acres | 0.16 |
| Year Built | 1929 |
| Type | Residential Income |
| Sub-Type | Apartment Building |
| Status | Active |
Community Information
| Address | 1217 Cedar Ave |
|---|---|
| Area | Downtown Area, Alamitos Beach |
| City | LONG BEACH |
| County | Los Angeles |
| State | CA |
| Zip Code | 90813 |
Amenities
| Garages | None |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall |
|---|---|
| Cooling | None |
| Fireplace | No |
| # of Stories | 2 |
| Has Basement | No |
Additional Information
| Date Listed | April 23rd, 2024 |
|---|---|
| Days on Market | 26 |
| Zoning | LBPD10 |
| Foreclosure | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Jonathan Swire (01336277) |
|---|---|
| Office | The Agency |