About 619 Cedar Ave 1, 3, 4
Discover a prime opportunity in the heart of Downtown Long Beach with this unique offering of three Own-Your-Own units at 619 Cedar Avenue. This bundle includes two studio apartments and a single 1-bedroom unit. Perfectly positioned within walking distance to Pine Avenue's vibrant dining and entertainment scene, and close to metro rail services, these units are primed for solid rental demand. Currently, rents are below market value, offering significant upside potential with a proforma cap rate of 6.5%. Ideal for those looking to capitalize on Long Beach's dynamic rental market, these units present a chance to secure a low-maintenance property with a high return on investment.
Features of 619 Cedar Ave 1, 3, 4
| MLS® # | OC24078744MR |
|---|---|
| Price | $600,000 |
| Bedrooms | 1 |
| Bathrooms | 3.00 |
| Square Footage | 1,526 |
| Acres | 0.17 |
| Year Built | 1955 |
| Type | Residential Income |
| Sub-Type | OwnYourOwn |
| Status | Active |
Community Information
| Address | 619 Cedar Ave 1, 3, 4 |
|---|---|
| Area | Downtown Area, Alamitos Beach |
| City | LONG BEACH |
| County | Los Angeles |
| State | CA |
| Zip Code | 90802 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
| Pool | None |
Interior
| Fireplace | No |
|---|---|
| # of Stories | 1 |
| Has Basement | No |
Additional Information
| Date Listed | April 19th, 2024 |
|---|---|
| Days on Market | 30 |
| Zoning | LBPD10 |
| Foreclosure | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Mark Kelaidis (01920052) |
|---|---|
| Office | Pacific Sotheby's Int'l Realty |