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Noelle Longmeyer

nlongmeyer@gmail.com +1(714) 514-5643

$1,850,000

Est. payment - /mo

7,505 Sqft Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID PW26094892

HOA Y/N No

Year Built 1931

Annual Tax Amount $14,854

Tax Year 2024

Lot Size 7,505 Sqft

Lot Dimensions Public Records

Property Sub-Type Apartment

Property Description

9% cap rate! Beautiful craftsman bungalow with 2 units and 6 additional units available in downtown Long Beach just minutes to the beach! Discover an exceptional investment opportunity at 833 Cedar Avenue, a prominent 8-unit apartment building located in a prime area in Long Beach. This unique multi family property, just 5 minutes from the beach, boasts two buildings with a total of 6,494 square feet situated on a generous 7,506 square foot lot, offering significant rental income potential. Recent upgrades enhance this property's appeal, including 100% new plumbing installed three to four years ago and new vinyl windows throughout. The conversion to electric heaters means tenants now cover their own heating costs, as they pay for electricity. Strategically zoned LBPD10, this property benefits from one of Long Beach's most desirable and flexible planning districts, allowing for higher density development. This prime location provides residents with excellent access to downtown Long Beach amenities, shopping, dining, entertainment, and public transportation, and easy freeway access. With its robust unit count, considerable square footage (studios 655 sf), advantageous zoning, and recent improvements, 833 Cedar Avenue is an excellent acquisition for investors seeking a strong performing asset with potential for future upside in a dynamic Long Beach market.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBPD10

Interior

Heating Electric, Natural Gas

Fireplace No

Laundry Common Area

Exterior

Parking Features On Street

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Biking, Curbs, Park, Street Lights, Sidewalks, Water Sports

Total Parking Spaces 4

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7272014010

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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Listed by Julio Bonilla Keller Williams Pacific Estates 562-355-8060, DRE #01281205

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Noelle Longmeyer

+1(714) 514-5643

Agent | License ID: 01313351

Agent License ID: 01313351

833 Cedar Long Beach, CA 90813

Noelle Longmeyer

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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