1217 Cedar Avenue, Long Beach CA, 90813

Active

1217 Cedar Avenue

Long Beach CA, 90813

$2,895,000

$358.03 per sqft

Active

6 Beds

14 Baths

8,086 sqft

Residential

Built in 1929

Listed by Jonathan Swire with The Agency 424-230-3700

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.

24385989

MLSⓇ ID

April 23, 2024

Listed

May 9, 2024

Updated

Map

1217 Cedar Avenue
Long Beach CA, 90813

Interior Features

Total Stories: 2
Bedrooms: 6
Total Bathrooms: 14
Fireplace: No
Cooling: No
Cooling Description: None
Heating: Yes
Heating Description: Wall Furnace

Exterior/Building Features

Lot Size: 0.16 Acres

Other Property Details

Area Name: 4 - Downtown Area, Alamitos Beach
Days on Market: 14
Garage: No
Parking: None
Parking Total: 0
View: No
County: Los Angeles
Pool: No
Zoning: LBPD10
Buyer Agency Compensation: 2%

Listing Contact: 424-230-3700

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 5/9/2024 at 12:36 PM UTC