CA > Long Beach
Long Beach, CA 90813,1439 Cedar AVE
Long Beach, CA 90813,1439 Cedar AVE
Long Beach, CA 90813,1439 Cedar AVE
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Sharad Gupta

Sharad Gupta

+1(408) 401-1003
Listed by Anthony Walker • Buckingham Investments, Inc
$3,150,000
Est. payment /mo
7,435 Sqft Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRSB25042843

Style Spanish

Originating Board California Regional MLS

Year Built 1928

Lot Size 7,435 Sqft

Property Description

This turnkey high yield 16 unit property is located in a dense rental demand area of Long Beach. There are 15 one bedroom units and 1 two bedroom unit in over 10,000 square feet of space, plus 4 garages and storage in rear. The high in-place cash flow with actual rents offers 9.9X gross at close, and 9.5X GRM at market rents. The property has been extensively renovated in recent years including exterior refresh, new windows, lighting, common area flooring, fencing, controlled access, and all units upgraded with vinyl flooring, new kitchens, bathrooms, paint, and lighting. The major systems include newer separately metered main electrical panel, full plumbing re-pipe in 2022, reinforced foundation, and a newer roof. The is a laundry room on the premises for additional income, and great potential for substantial upside through conversion of 4 garages and storage in rear structure to ADUs. The building is conveniently located in the Washington neighborhood directly across the street from Washington Middle School, which is currently undergoing a massive $176 Million reconstruction project. There is excellent transit access with only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. The property is also just 7 blocks North of Downtown Long Beach,

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Rooms

Kitchen Oven Range - Gas, Oven - Gas

Interior

Heating Wall Furnace

Cooling None

Flooring Laminate

Laundry Laundry Area

Exterior

Parking Features Garage

Garage Spaces 4.0

Pool 31, None

View None

Roof Type Flat / Low Pitch

Building

Foundation Raised

Water District - Public

Architectural Style Spanish

Others

Tax ID 7269041017

Special Listing Condition Not Applicable

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agent
Sharad Gupta

Broker | License ID: 02213637

+1(408) 401-1003

5201 Great America Pkwy, Santa Clara, CA, 95054, USA

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