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2033 Cedar Avenue

2033 Cedar Avenue,Long Beach, CA 90802

8

Unit

$2,150,000

Price

Property Details

Price Per Unit

$268,750

Price per SF

$339

Current Cap Rate

5.01%

Market Cap Rate

5.43%

Current GRM

12.92

Market GRM

12.20

2033 Cedar Avenue

2033 Cedar Avenue,Long Beach, CA 90802

$2,150,000

Price

Property Details

Price per SF

$339

Price Per Unit

$268,750

Price per SF

$339

Current Cap Rate

5.01%

Market Cap Rate

5.43%

Unit

8

Current GRM

12.92

Market GRM

12.20

Description

2033 Cedar Avenue is a nicely landscaped 8-unit apartment building on a tree-lined street in Long Beach, California. The property consists of two buildings with a shared courtyard on a 6,706-square-foot lot, and an attractive mix of two-bedroom, one-bedroom, and studio units
Approximately two-thirds of the units have been renovated with new interior paint throughout, new kitchen and vanity cabinets, granite or new Formica countertops and Life-Proof locking or linoleum flooring.
Each unit in the front building has a dedicated laundry room with washer/dryer and hot water heater. The rear building has one shared laundry room equipped with a washer/dryer.
Located five minutes from Downtown Long Beach and just a few minutes away from the 710 and 405 freeways, 2033 Cedar Avenue provides a new owner with a well-located property at 12.92 x gross on current rents.

Highlights

  • Offered at 12.91 GRM on Current Rents
  • Attractive Unit Mix of Two-Bedrooms, One-Bedrooms & Studios
  • Each unit in the Front Building has a Dedicated Laundry Room with Washer/Dryer and Hot Water Heater
  • Rear Building has one Shared Laundry Room Equipped with a Washer/Dryer
  • Roughly 2/3rds of the Units have been Renovated with New Kitchen and Vanity Cabinets, Granite or Formica Countertops, as well as Life-Proof Locking or Linoleum Flooring
  • 5 Minutes From Downtown Long Beach & Just A Few Minutes Away From The 710 and 405 Freeways

Map

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