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  • DESCRIPTION

    1019-1027 Cedar Avenue is a 26-unit turn-key property in the up-and-coming Willmore City Historic District, just north of Downtown Long Beach. The property offers 22 one-bedroom/one-bath and 4 two-bedroom/one-bath units. All units were extensively remodeled in the past two years with new custom kitchen cabinetry, quartz countertops, stainless steel appliances, new bathroom vanities, and modern lighting. Select units feature all vinyl plank flooring; others feature a mix of vinyl plank flooring and carpet. The building also offers a community courtyard with BBQ and outdoor furniture, as well as on-site laundry facilities and 14 garages. This property is in very close proximity to all of the exciting amenities and employment opportunities in Downtown Long Beach. The location is popular for commuters because it provides easy access to the 710 and 405 freeways as well as the Metro Blue Line which runs between Downtown Long Beach and Downtown Los Angeles, with 22 stops along the way. 1019-1027 Cedar Avenue offers an investor the opportunity to own a remodeled, turn-key asset in a growing area adjacent to booming Downtown Long Beach.

    KEY DETAILS
    • Price:
    • $6,750,000
    • Bedrooms:
    • 0
    • Full Baths:
    • 0
    • Square Footage:
    • 15,566
    • Acreage:
    • 0.34
    • Year Built:
    • 1961
    • MLS #:
    • PW21197284
    • Street Address:
    • 1019 Cedar Ave
    • City:
    • Long Beach
    • State:
    • CA
    • Postal Code:
    • 90813
    • County:
    • Los Angeles
    • Area:
    • Not Defined
    • Listing Status:
    • For Sale - Pending

    Building

    • Number Of Units:
    • 26
    • Total # Of Buildings:
    • 2
    • Total Building Square Footage:
    • 15566
    • Walls:
    • 2+ Common Walls
    • Year Built:
    • 1961
    • Year Built Source:
    • Assessor

    Business

    • Annual Electric Expenses:
    • 3449
    • Annual Insurance Expenses:
    • 8561
    • Annual Maintenance Expenses:
    • 23400
    • Annual Trash Expenses:
    • 3449
    • Annual Water/Sewer Expenses:
    • 3449
    • Gross Income:
    • 491017
    • Net Operating Income:
    • 323403
    • Operating Expense:
    • 167614

    Land

    • Approximate Lot Size Range Source:
    • Assessor
    • Conforms To Zoning:
    • Lbpd10
    • Lot Features:
    • 26-30 Units/Acre
    • Lot Size:
    • 14741
    • Lot Square Footage:
    • 14741

    Listing

    • Community Features:
    • Urban
    • Days On Market:
    • 35
    • On Market Date:
    • 2021-09-07
    • Originating Mls:
    • Crmls
    • Terms:
    • Cash, Cash To New Loan, 1031 Exchange

    Rooms

    • Laundry:
    • Common Area

    Structures

    • Garage Parking Spaces:
    • 14
    • Has Garage:
    • Yes
    • Parking Description:
    • Garage
    • Parking Spaces:
    • 14

    Systems

    • Existing Water:
    • Public
    • Sewage Type:
    • Public Sewer

    Units

    • Unit 1 Monthly Rent:
    • 1845
    • Unit 1 Total Bathrooms:
    • 1
    • Unit 1 Total Bedrooms:
    • 2
    • Unit 2 Monthly Rent:
    • 1493
    • Unit 2 Total Bathrooms:
    • 1
    • Unit 2 Total Bedrooms:
    • 1

    Source

    • Listing Provided By Robert Stepp of Keller Williams - Santa Monica

      CACRMLS
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    SCHOOL RATINGS

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    NOTES

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