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    1439 Cedar Ave

    Long Beach, CA 90813
    • $3,095,000
    • STATUS: Active
    • ON SITE: 62 days
    • ID#: 20-640540
    UPDATED: 59 min ago
    $3,095,000
    • 16
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,080
      SQFT
    • $307
      $/SQFT
    Type:
    Multi-Family
    Built:
    1928
    County:

    School Ratings & Info

    Description

    BEST PRICED DEAL IN ALL OF LOS ANGELES - UNDER 11.8X GRM with upside to a 5.9% CAP and 10.8X GRM. 16 units located in Long Beach. All units are 1 bed/1 bath. The property is professionally managed and and all units have been remodeled. The current owner has spent over $225,000 on improvements including new landscaping, new water heater and completely remodeled all unit interiors. Unit interiors received new paint, laminate flooring, ceaserstone countertops and new fixtures. This is a perfect asset for someone looking to acquire a rehabbed, stabilized property that is cash flowing. Additionally, there is some rental upside by leveling the rents at market. 9 of 16 tenants are government subsidy (Section 8, Brilliant Corners or US Vets) meaning over 50% of your monthly income is guaranteed to be paid and not subject to potential COVID hardship issues. Earn over 9% cash on cash against in place rents. Contact LA for more info including a setup and Rent Roll.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-03T20:42:42.847. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.trulinerealty.com/homes/110594851
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    1439 Cedar Ave Long Beach, CA 90813

    • Price: $3,095,000
    • Status: Active
    • Updated: 59 min ago
    • ID#: 20-640540
    16
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    10,080
    SQFT
    $307
    $/SQFT
    1928
    Built
    Neighborhood:
    Downtown Area, Alamitos Beach
    County:
    Los Angeles
    Area:
    Downtown Area, Alamitos Beach
    Property Description
    BEST PRICED DEAL IN ALL OF LOS ANGELES - UNDER 11.8X GRM with upside to a 5.9% CAP and 10.8X GRM. 16 units located in Long Beach. All units are 1 bed/1 bath. The property is professionally managed and and all units have been remodeled. The current owner has spent over $225,000 on improvements including new landscaping, new water heater and completely remodeled all unit interiors. Unit interiors received new paint, laminate flooring, ceaserstone countertops and new fixtures. This is a perfect asset for someone looking to acquire a rehabbed, stabilized property that is cash flowing. Additionally, there is some rental upside by leveling the rents at market. 9 of 16 tenants are government subsidy (Section 8, Brilliant Corners or US Vets) meaning over 50% of your monthly income is guaranteed to be paid and not subject to potential COVID hardship issues. Earn over 9% cash on cash against in place rents. Contact LA for more info including a setup and Rent Roll.
    Exterior Features

    Garage Structures Total 1 Lot Size Area 7433 Other Structures None Parking Garage Garage Is Detached Total Parking 4

    Interior Features

    Baths Total 16.00 Cooling None Equipment Ceiling Fan Heating Wall Gas

    Property Features

    Assessed Total Value 1989204 Gross Income 263000 Gross Operating Income 263000 Like Units1 1 Net Operating Income 161000.00 Number Of Buildings 1 Number Of Units 16 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 94000 Type Of Units Income Year Built Source Vendor Enhanced Zoning Lbr4n

    Listing provided courtesy of Jonathan Swire DRE#01336277 of The Agency.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-03T20:42:42.847. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    TruLine Realty
    8644 Wilshire Blvd. Suite 204
    Beverly Hills CA, 90211