330 Cedar Ave, Long Beach, CA, 90802
Property Details
7
3
multi family
Description
Multi Family in Long Beach, CA - Bedrooms: 7 - Bathrooms: 3 - Area: 14055 sqft - Year Built: 1915 - Lot: 7514 sqft
Listing Agent: Jon Swire Brokerage: The Agency
PRICED TO SELL. Under 10 GRM and 6.0% CAP. 25 units in the heart of Downtown Long Beach. Excellent unit mix for the area. Well-maintained and professionaly managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). The building is blocks from over $8BB in redevelopment including the new Library and many new apartment complexes and restaurants. All unit interiors and common areas heavily updated. The buildings electrical was updated to a 400 AMP main panel and 60 AMPS in each unit and the roof was replaced in 2020. The building was also retrofitted in 1989. New laminate flooring throughout the common areas. Onsite laundry in the basement area. There is a separate house in the rear that has 2 large units - a 3 bed/1 bath and 1 bed/1 bath unit. Loan quote provided by David Guevara. Momenta Capital Group. Qualified Buyers can put as little as 28% down and earn over an 8% cash on cash return against in-place rents. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL.
Location
Address
330 Cedar Ave, Long Beach, CA, 90802
City
Long Beach
Features and Finishes
Bedrooms: 7, Total Bathrooms: 25, Full Bathrooms: 3, Heating Features: Wall, Lot Size Acres: 0.1725, Lot Size Dimensions: 100x150, Lot Size Source: Vendor Enhanced, Lot Size Square Feet: 7513, Parking Features: Assigned, Parking Total: 2, Number of Buildings: 2, Number of Units: 25, Unit Type: Income, Bedrooms in Unit-1: 0, Bedrooms in Unit-2: 1, Bedrooms in Unit-3: 3, Total Bathrooms in Unit-1: 1, Total Bathrooms in Unit-2: 1, Total Bathrooms in Unit-3: 1, Full Bathrooms in Unit-1: 1, Full Bathrooms in Unit-2: 1, Full Bathrooms in Unit-3: 1, Unit 1 Total Actual Rent: 1495, Unit 2 Total Actual Rent: 1595, Unit 3 Total Actual Rent: 2670, Gross Income: 476000, Gross Scheduled Income: 462000, Source Listing Status: Active, County: Los Angeles, Cap Rate: 6, Directions: 25 Units in Downtown Long Beach blocks from the Ocean and Pike Place., Source Property Type: Residential Income, Area: Downtown Area, Alamitos Beach, Source Neighborhood: Downtown Area, Alamitos Beach, Parcel Number: 7280-01
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