330 Cedar Avenue

330 Cedar Avenue, Long Beach, CA 90802

Sale Price

$6,200,000

Investment Overview

Units

25

Year Built

1915

Price Per Unit

$248,000

Current Cap Rate

4.23

Market Cap Rate

4.74

Current GRM

14.32

Market GRM

13.26

The Offering

330 Cedar Avenue is a historic three-story, 25-unit multifamily asset located in the West Gateway submarket of Downtown

Long Beach, within walking distance to a plethora of employment opportunities as well as Pine Avenue, The Pike and other local attractions.

The property is comprised of 20 studio units, four 1 BD / 1 BA units and one 3 BD / 1 BA unit.   In addition to offering the charm and character of hardwood floors, wood built-ins and crown molding, fifteen of the units have been fully renovated in 2019/2020 with new tile and cabinets in kitchens and baths, granite countertops, modern faucets and lighting fixtures.

330 Cedar Avenue offers an investor the opportunity to own a sizable, well-maintained building in the heart of Downtown Long Beach.

Investment Highlights

  • Attractive, sizable property in prime West Gateway
  • Close to employment opportunities, dining and shopping – 94 Walkscore
  • 15 units fully renovated in 2019/2020
  • New roof and interior hallway carpeting
  • 13.26 Market GRM

Virtual Tour