1425 Cedar, Long Beach, CA 90813
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1425 Cedar, Long Beach, CA 90813
1425 Cedar, Long Beach, CA 90813
1425 Cedar, Long Beach, CA 90813
1425 Cedar, Long Beach, CA 90813
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1425 Cedar Long Beach, CA 90813

6,690 Sqft Lot


UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Washington

MLS Listing ID SB26242091

HOA Y/N No

Year Built 1953

Lot Size 6,690 Sqft

Property Sub-Type Apartment

Property Description

Amazing 7.4% in-place yield plus a 10% upside to an 8.4% cap rate at market! 1953-built, 10-unit property in a dense, high-demand rental area of Long Beach. 8.9X GRM on current rents and 8.1X GRM at market for postwar units under $200K/door. Strong unit mix: (8) 1 bed / 1 bath and (2) 2 bed / 1 bath units. 4 of 10 units just remodeled with new flooring, lighting, kitchens and bathrooms. Community laundry room plus 4 garages for added income or ADU conversion potential. All units separately metered for gas and electricity.

Directly across from Washington Middle School, currently undergoing a $176 million reconstruction. Just a few blocks to the Metro Blue Line rail station, PCH and the 710 Freeway. Over 60% of households within 5 miles are renters with an average household income of over $94,000 (Costar).

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Heating Wall Furnace

Cooling None

Flooring Tile, Vinyl

Fireplaces Type None

Fireplace No

Appliance Gas Range

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Fence Wrought Iron

Pool None

Community Features Urban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Flat

Accessibility None

Total Parking Spaces 4

Private Pool No

Building

Lot Description Rectangular Lot

Faces East

Story 2

Entry Level Two

Foundation Raised

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7269041021

Energy Description 2200.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

Lease Land No


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Listed by Anthony Walker Buckingham Investments, Inc 310-561-4776, DRE #01908153

NEARBY SCHOOLS & PROPERTIES

Frances Mouser Moon

Frances Mouser Moon

Team Leader License ID: 01309623

+1(760) 273-5315

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1425 Cedar

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