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330 Cedar Avenue

330 Cedar Avenue,Long Beach, CA 90802

1915

Year Build

$6,200,000

Price

Property Details

Current Cap Rate

4.23

Market Cap

4.74

Current GRM

14.32

Market GRM

13.26

25907 Oak Street

25907 Oak Street | Lomita, CA 90717

$10,750,000

Price per Unit

Property Details

Tyler Leeson

$10,750,000

Building Size

23,312 SF

Number Of Units

23

Cap Rate

3.69%

Total Lot Size

23,312 SF

Year Built

23

Number Of Units

23

Year Built

23

Description

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.

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

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