1439 Cedar AVE Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB25042843
Style Spanish
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
Others
Special Listing Condition Not Applicable